State Bank approves TPBank to increase charter capital to more than 26,000 billion VND

The State Bank of Vietnam (SBV) has just sent a document to Tien Phong Commercial Joint Stock Bank (TPBank - HoSE: TPB) regarding the request for approval to increase charter capital.

Accordingly, the State Bank approved TPBank to increase its charter capital by a maximum of VND 4,403 billion in the form of issuing shares to pay dividends to existing shareholders, which was approved by the bank's General Meeting of Shareholders in Resolution No. 01/2024 dated April 23, 2024 and approved by the Board of Directors in Resolution No. 46 dated July 31, 2024.

Within a maximum of 10 working days from the date of completion of the issuance of shares in accordance with the law, TPBank shall carry out procedures to amend and supplement the license. Accordingly, the bank plans to increase its charter capital from VND22,016 billion to VND26,419 billion.

At the 2024 Annual General Meeting of Shareholders, TPBank decided to pay 2023 dividends at a rate of 25% in the form of cash and shares. The source of payment is taken from undistributed profits after setting aside funds, according to the audited financial statements.

The bank plans to issue up to more than 440 million new shares to pay dividends to shareholders at a rate of 20%, meaning each shareholder owning 100 shares will receive 20 new shares.

TPBank said the issuance aims to expand the bank's operations and is in line with incentives from the State Bank of Vietnam (SBV).

In July 2024, TPBank spent more than VND 1,100 billion to pay cash dividends to shareholders at a rate of 5%, equivalent to shareholders owning 1 share receiving VND 500.

The source of capital for payment is from undistributed profits after setting aside funds as of December 31, 2023 according to the Resolution of the 2024 Annual General Meeting of Shareholders.

Previously, in 2023, the bank spent nearly VND 4,000 billion to pay cash dividends to shareholders at a rate of 15%. At the same time, it distributed bonus shares at a rate of more than 39.19%.

On the stock market, at the end of the session on August 21, TPB shares increased by 1.99% compared to the previous session to VND 17,900/share with a trading volume of more than 16.7 million units.

Source: https://www.nguoiduatin.vn/nhnn-chap-thuan-cho-tpbank-tang-von-dieu-le-len-hon-26000-ty-dong-204240821180936695.htm