State Bank updates progress of stock dividend distribution at VietinBank and BIDV

Illustration photo.

Tomorrow (October 15), VietinBank and BIDV will close the shareholder list to pay cash dividends at a rate of 4.5% (that is, shareholders owning one share will receive 450 VND). Accordingly, VietinBank plans to spend more than 2,400 billion VND to pay cash dividends to shareholders, while this figure at BIDV is 3,159 billion VND. The expected payment date is November 14 (BIDV) and November 17, 2025 ( VietinBank ).

In addition to cash dividends, shareholders of these two banks are also looking forward to information on stock dividends. According to the Resolution of the 2025 General Meeting of Shareholders, VietinBank will pay stock dividends at a rate of 44.6%, the source of implementation will be taken from retained earnings in 2021, 2022 and the period 2009-2016.

Meanwhile, BIDV plans to issue a maximum of more than 498.5 million bonus shares (equivalent to 7.1% of outstanding shares as of March 31, 2025) to increase capital from the charter capital reserve fund. At the same time, issue a maximum of nearly 1,397.3 million shares to pay dividends from undistributed accumulated profits in 2023 (equivalent to an implementation rate of 19.9% of outstanding shares as of March 31, 2025).

In a report recently sent to the National Assembly , the State Bank said that this agency is carrying out procedures for the above banks to soon increase capital and improve financial capacity.

Specifically, the State Bank is submitting to the Prime Minister a proposal to increase charter capital for Vietinbank regarding the payment of dividends in shares from the remaining accumulated profits of Vietinbank in the period 2009-2016, 2021 and 2022.

At the same time, the State Bank is also drafting a document to submit to the Prime Minister for approval of the dividend payment rate in shares from the remaining profit in 2023 and the charter capital supplement fund of Vietinbank.

Regarding BIDV, the State Bank has sent a request for comments from the Ministry of Finance on the draft submission to the Prime Minister on a plan to increase capital for BIDV from the remaining profit in 2023, the reserve fund to supplement charter capital and issue individual shares/issue through the public.

From 2023 to present, the charter capital of VCB, VietinBank, BIDV and Agribank increased by VND 36,232 billion, VND 5,643 billion, VND 18,390 billion and VND 17,191.74 billion, respectively.

In order to improve the financial capacity of state-owned joint stock commercial banks, recently, the State Bank has closely and resolutely coordinated with relevant ministries and branches to submit to competent authorities for approval of additional state capital investment and increase of charter capital for state-owned joint stock commercial banks .

In addition, in order to improve financial capacity, ensure sustainable development, enhance position and competitiveness, based on the State Bank's opinion on agreeing to let the Representative vote to approve at the meeting of the Board of Directors/General Meeting of Shareholders on the Plan to issue individual shares to increase charter capital at BIDV, in the first quarter of 2025, BIDV completed the issuance of 123.8 million individual shares to a number of financial investors, increasing charter capital from VND 68,975 billion to VND 70,213 billion.

Although the increase in charter capital for state-owned joint stock commercial banks has recently been paid attention to and handled by competent authorities, the State Bank believes that the increase is still far from the actual requirements to improve financial capacity and implement Basel II according to the advanced method - Basel III at state-owned joint stock commercial banks because the increase in charter capital of state-owned joint stock commercial banks depends on additional capital sources from the state budget and requires the opinions of relevant ministries and agencies.

Source: https://baodautu.vn/ngan-hang-nha-nuoc-cap-nhat-tien-do-chia-co-tuc-co-phieu-tai-vietinbank-bidv-d412047.html