Banks start procedures to pay dividends until year-end

The expected implementation time is in the third-fourth quarter of 2023.

In addition to the 564.3 million shares to be issued, VietinBank also plans to increase charter capital through issuing shares from the remaining profits from 2021 and accumulated remaining profits until the end of 2016.

Specifically, VietinBank will increase its charter capital by 12.3 trillion VND through issuing shares to pay dividends. With an expected dividend rate of 22.96%, the bank's expected charter capital after successful issuance is 66.03 trillion VND.

The Orient Commercial Joint Stock Bank (OCB) has also announced that it will finalise the list of shareholders to issue bonus shares in a plan to increase capital from equity sources.

With an issuance ratio of 2:1, shareholders owning 100 shares will receive 50 new shares. Thus, OCB will issue nearly 685 million bonus shares, with a total par value of 6.85 trillion VND. Accordingly, the bank's charter capital will increase from 13.7 trillion VND to 20.55 trillion VND.

At Vietnam Export-Import Commercial Joint Stock Bank (Eximbank or EIB), the last registration date to finalise the list of shareholders receiving dividends is September 25, 2023. Eximbank will issue stock dividends at a rate of 18%, meaning that shareholders owning 100 shares will receive 18 new shares. With the issuance number of nearly 265.6 million shares, the bank's charter capital is expected to increase by a maximum of 2.66 trillion VND to 17.57 trillion VND.

Previously, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank or VCB) completed the issuance of nearly 856.6 million shares to pay dividends at the rate of 18.1% in August. The entire number of shares used for dividend payments will officially be traded from September 15.

In July, Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank or HDB) also issued more than 377 million shares to pay dividends in 2022. The issuance rate is 15%, equivalent to shareholders owning 100 HDB shares receiving 15 new shares.

The Vietnam Prosperity Joint Stock Commercial Bank (VPBank or VPB) is expected to spend nearly 8 trillion VND from 2022's profits in the third quarter of 2023 to pay dividends at the rate of 10% in cash.

In addition to VPBank, a number of other banks have paid cash dividends this year, including HDBank (HDB), Asia Commercial Joint Stock Bank (ACB), Tien Phong Commercial Joint Stock Bank (TPBank or TPB), Military Commercial Joint Stock Bank (MBB) and Vietnam International Commercial Joint Stock Bank (VIB)./.