Bank shareholders to receive lucrative dividend

April 03, 2024 | 15:15
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Nam A Bank passed its plan for its dividend payout at its AGM on March 29, at a ratio of 25 per cent in the form of shares, to bolster its financial standing. The bank aims to raise its charter capital to nearly $571 million this year, before reaching $675 million by 2025.
Bank shareholders to receive lucrative dividend

Last year, Nam A Bank issued almost 212 million shares to replenish its capital sources also via dividend payment, raising its charter capital from $352 million to $440 million.

Similarly, at its AGM on April 2, VIB submitted a dividend plan to shareholders at a ratio of 29.5 per cent, in which the dividend in cash would be at most 12.5 per cent, with shares comprising the rest.

The total sum for dividend payment would come to around $132 million.

Existing employees shall also be given bonus shares at a ratio of 0.44 per cent to raise its charter capital.

Meanwhile, OCB is set to raise its charter capital by an additionally $173.5 million via three schemes.

First, the southern lender aims to issue nearly 411 million shares for dividend payment at a ratio of 20 per cent.

The money comes from cumulative undistributed profits until the end of 2023 following last year's audited consolidated financial statement.

Second, the bank aims to enact 5 million shares via employee stock ownership plan (ESOP) scheme at the price of VND10,000 ($0.41) apiece.

Third, OCB shall offer more than 882,000 shares through private placements at a total value surpassing $366,600.

If these three schemes are successful, the bank’s charter capital could climb to $1.02 billion from its current $856 million.

The timing for these placements will be set by OCB’s Board of Management after getting approval from the relevant competent management agency.

For its part, Techcombank envisages 15 per cent cash dividend for its shareholders, together with bonus shares with a ratio of 100 per cent.

The sum for dividend payment would come from the bank’s 2023 undistributed profits after deductions to its diverse funds.

The share issuance is expected to double its charter capital from its current $1.46 billion to $2.92 billion.

Southern commercial lender ACB has also mulled over its dividend payment using undistributed profits, which approximates $828 million from 2023 and several previous years.

ACB’s Board of Management aims to offer the shareholders a dividend ratio of 25 per cent, of which 15 per cent shall be in the form of bonus shares and 10 per cent in cash, equal to using more than $404 million from the undistributed profit.

Such a ratio is also set to be kept for the 2024 dividend payment.

Following the current dividend payment scheme, the bank’s charter capital could touch $1.86 billion, adding more than $241 million, equal over 582 million additional shares.

The time for completion of this plan is the third quarter of the year.

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