HDBank set date of May 30 to pay cash dividend at rate of 10%

Ho Chi Minh City Development Joint Stock Commercial Bank ( HDBank – HOSE: HDB) announced the Resolution of the Board of Directors on paying 2022 cash dividends at a rate of 10%.

The record date for shareholders entitled to receive cash dividends is expected to be May 30, 2023. Shareholders whose names are on the list on the last registration date will receive VND 1,000/share. The expected dividend payment date for shareholders is June 12, 2023.

HDBank shareholders receive good news that they will receive cash dividends right after the General Meeting of Shareholders.

Previously, sharing with investors at the Investor Conference in the first quarter of 2023, Mr. Pham Van Dau, Chief Financial Officer of HDBank, said that the bank has made efforts to speed up the completion of procedures so that shareholders can receive cash dividends as soon as possible, possibly at the end of May or early June.

HDBank's 2023 Annual General Meeting of Shareholders approved a plan to pay a cash dividend of 10% and a stock dividend of 15%, a plan that is considered to harmonize both those who follow the "cash is king" school and investors who want to receive shares to continue to benefit from the strong and sustainable increase in current corporate value.

Statistics show that in the last 10 years, investors holding HDB shares have achieved a steady return of about 20% per year, surpassing the compound growth rate of VNIndex as well as the VN30 basket.

After completing the above plan, HDBank's charter capital will increase to VND 29,276 billion. This year's high dividend rate will achieve high business growth in 2022. Overcoming the general difficulties of the economy , HDBank recorded pre-tax profit for the whole year of 2022 reaching over VND 10,268 billion, up 27.2% over the same period and completing 105% of the plan. ROE reached 23.5%; ROA reached 2.1%, both higher than the same period last year.

Continuing the strong growth momentum of 2022, in the first quarter of 2023, HDBank recorded better-than-expected business results, with pre-tax profit reaching VND 2,743 billion. Notably, capital adequacy ratios, bad debt, and profitability ratios continued to remain at good levels in the industry. HDBank's capital adequacy ratio (CAR) according to Basel II standards reached 12.5%, of which the Tier 1 capital adequacy ratio reached 10%. The consolidated bad debt ratio was 1.8% and the individual bad debt ratio was 1.5%, lower than the industry-wide bad debt ratio (about 2.9% by the end of February 2023). Operating expenses were effectively managed, with the cost/income ratio at 34.6%, a sharp improvement from 39.3% at the end of 2022.

P. Nguyen

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