HDBank Prepares To Pay Dividends And Bonus Shares At A Total Rate Of 30pct.

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The Board of directors (BOD) of HCM City Development Commercial Joint Stock Bank (HDBank, HoSE: HDB) has approved the plan to issue a maximum of 289.8 million shares to pay dividends and distribute bonus shares. After the issuance, the bank’s charter capital will increase from nearly 9.810 trillion dong to 12.708 trillion dong.

Specifically, the bank will issue nearly 144.9 million shares to pay dividends in 2019, equivalent to a payment rate of 15 percent (shareholders owning 100 shares will receive 15 new shares).

In addition, HDBank will also issue nearly 144.9 million shares to distribute bonus to existing shareholders, equivalent to a distribution rate of 15 percent (shareholders owning 100 shares will receive 15 new shares).

The bank said that it will pay dividends and bonus shares for the first phase at a total rate of 30 percent after being approved by the State Bank of Vietnam (SBV) and the State Securities Commission, expected in the fourth quarter of 2020. The source of implementation is the bank’s undistributed profit and equity surplus of HDBank in its 2019 audited consolidated financial statement after appropriating the funds.

Previously, at the 2020 annual shareholders meeting, HDBank approved a plan to increase charter capital to over 16.088 trillion dong. The bank expects to pay dividends at a rate of 50 percent and issue bonus shares at a rate of 15 percent from the equity surplus, raising the total payment to shareholders to 65%.

 

Category: Finance, Vietnam

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