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LienVietPostBank (LPB) to pay dividend in shares at rate 12%
The State Bank of Viet Nam has approved the 2020 dividend payout plan of Lien Viet Post Commercial Joint Stock Bank (LienVietPostBank or LPB), at the rate of 12 per cent in shares.
Under the plan, LienVietPostBank will issue nearly 129 million shares to pay dividends for 2020, equivalent to VND1.29 trillion (US$56 million).
The bank will continue to carry out tranches of capital raising to increase its charter capital to more than VND15.7 trillion, via private placement of 66.7 million shares to foreign investors, raising the maximum foreign ownership ratio in the bank to 9.99 per cent, issuing 265 million shares to existing shareholders, issuing 35 million shares under the employee stock ownership plan (ESOP).
LienVietPostBank sets a profit target of VND3.2 trillion this year, up 32 per cent compared to 2020. As of May 31, LienVietPostBank's pre-tax profit reached more than VND1.7 trillion, completing nearly 60 per cent of the yearly plan.
On the stock market, LPB shares have increased continuously in recent time, from about VND23,000 per share at the end of April, to over VND29,000 per share at present.
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