State Bank approves BIDV to pay 21% dividend

(NLDO) – After being approved by the State Bank, BIDV plans to issue nearly 1.2 billion shares to pay dividends at a rate of 21%.

The State Bank has just issued an official dispatch approving the proposal to increase charter capital of the Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV, stock code BID).

Immediately, on December 10, BIDV's Board of Directors (BOD) issued a resolution to issue more than 1.197 billion shares to pay dividends at a rate of 21%. Dividend payments are expected to be made in the fourth quarter of 2024 and the first quarter of 2025.

BIDV stock price movements in recent times

If the above plan is completed, BIDV's expected charter capital will increase from VND57,004 billion to over VND68,975 billion. Thereby, maintaining its position as the state-owned commercial bank with the largest charter capital, surpassing Vietcombank, Agribank and VietinBank; behind VPBank and Techcombank.

Currently, the State Bank is the largest shareholder, owning nearly 81% of BIDV's capital; strategic shareholder Keb Hana Bank holds 15% of shares.

According to the consolidated financial report for the third quarter of 2024, BIDV said that pre-tax profit in the third quarter reached VND 6,498 billion, up 10% over the same period. Accumulated profit for the first 9 months was VND 22,047 billion, up 12%; ranked 3rd in the banking system in terms of profit, after Vietcombank and Techcombank .

Regarding stock price, BID shares ended the trading session on December 10 at VND46,750/share, a slight increase compared to the previous session.

Source: https://nld.com.vn/ngan-hang-nha-nuoc-chap-thuan-cho-bidv-tra-co-tuc-21-196241210154017337.htm