The Bank for Foreign Trade of Vietnam (Vietcombank) recently announced the final registration date as 6/10, with the dividend payment scheduled for 24/10.
The State Bank of Vietnam, the largest shareholder with 4.18 billion shares (equivalent to 74.8% of Vietcombank's capital), will receive over 2,800 billion VND from this dividend distribution. Mizuho Bank (Japan), a shareholder owning 15% of the capital, will receive over 560 billion VND.
Vietcombank's most recent cash dividend distribution was at the end of 2021, at a rate of 12% or 1,200 VND per share.
Earlier this year, Vietcombank issued over 2.76 billion shares as a stock dividend at a rate of 49.5%, increasing its charter capital to 83,557 billion VND. This is currently the highest in the banking system.
During its annual general meeting at the end of April, Vietcombank approved a plan to offer a maximum of 6.5% of its outstanding shares (approximately 543 million shares) to raise its charter capital to 88,988 billion VND. The bank's management stated they had proactively approached several potential investors and "received initial positive feedback". The bank expects to complete the capital increase this year but emphasized that success depends on the macroeconomic situation, market fluctuations, and actual investor demand.
On the stock market, Vietcombank shares are trading around 63,000 VND. Last month, the market price briefly approached 70,000 VND. The market capitalization is currently close to 530,000 billion VND.
Besides Vietcombank, several listed banks have also distributed cash dividends since the beginning of the year. In May, LPBank, VPBank, TPBank, and VIB simultaneously made payments with rates ranging from 5% to 25%. Shortly after, SHB distributed a 5% cash dividend, while ACB distributed 10%. At the end of October, Techcombank will also pay a 10% dividend.
In a mid-year report on the banking sector, the S&I Ratings analysis team noted that the number of banks paying cash dividends is increasing compared to the previous year. This demonstrates a balance between current benefits for shareholders and long-term strategy.
Phuong Dong
