HDBank closes the right to pay dividends in cash and shares at a total rate of 30%

DNVN - Ho Chi Minh City Development Joint Stock Commercial Bank ( HDBank - HOSE: HDB) has just announced the Resolution of the Board of Directors on implementing the 2023 dividend payment at a rate of 30%, including 10% in cash and 20% in shares.

With a total dividend rate of up to 30%, HDBank is the bank paying the highest dividend in 2024 (excluding Techcombank, which has not paid a large dividend after many years of not paying dividends). HDBank has always paid the highest dividends to shareholders in the market for many consecutive years. At the recent Annual General Meeting of Shareholders, this bank presented to shareholders a dividend plan expected to be implemented in 2025 of up to 30%, including a maximum of 15% in cash.

According to the published document, for cash dividends, the last registration date to exercise the right to receive dividends is July 15, 2024, corresponding to the ex-dividend date of July 12, 2024. The expected cash dividend payment date is July 26, 2024. Shareholders whose names are on the list on the last registration date will receive VND 1,000/share.

At the same time, HDBank also implemented stock dividend distribution according to the resolution approved by the General Meeting of Shareholders at a rate of 20%. Shareholders whose names are on the list on the last registration date are entitled to receive stock dividends at a distribution ratio of 100:20 (shareholders owning 100 shares will receive 20 new shares). The closing date for the list of shareholders exercising their rights will be announced after approval from the competent authorities, expected in the third quarter of 2024.

Regarding business results, according to the financial report for the first quarter of 2024, HDBank achieved credit growth of over 6.2%, a high level in the industry. Pre-tax profit reached VND 4,028 billion, an increase of 46.8% over the same period last year. Return on equity (ROE) reached 26.7%, leading the system. At the same time, the bank ensured high capital safety ratios and asset quality in the leading group of the industry.

In 2024, HDBank will accelerate the implementation of its sustainable growth and development (ESG) strategy. The bank aims to continue to grow highly and comprehensively in all indicators. In particular, the pre-tax profit plan is up to VND 16,000 billion, an increase of 21.8% compared to 2023. The ROE ratio will reach 24.6% while maintaining a low bad debt ratio of below 1.5%.

Hong Minh

Source: https://doanhnghiepvn.vn/kinh-te/tai-chinh-ngan-hang/hdbank-chot-quyen-chia-co-tuc-bang-tien-va-co-phieu-tong-ty-le-30/20240702031057324