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HDBank (HDB) to pay second dividends for 2023 in shares at 20% ratio
The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank – Stock Code: HDB) has announced plans to issue shares for dividend payment in the form of shares for 2023, and set December 12, 2024, as the record date for the issuance.
Customers at an HDBank branch in HCM City. — Photo courtesy of HDBank
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It will issue 582.5 million shares at a 20 per cent ratio, meaning a shareholder holding 100 shares will receive 20.
The value of the issuance is more than VNĐ5.8 trillion (US$228.3 million), and will raise HDBank’s charter capital by over VNĐ 5.8 trillion in accordance with a plan ratified at its 2024 annual general meeting.
The dividend distribution is expected to take place in Q4, 2024, with related capital increase procedures to be implemented during the next quarter.
HDBank thus pays 30 per cent for 2023: It paid a 10 per cent cash dividend in July 2024.
For the first nine months of the year, the bank reported pre-tax profits of VNĐ12.6 trillion ($496 million), a 46.6 per cent jump year-on-year and 79.8 per cent of the full-year target.
Its return on equity stands at 26.7 per cent and return on assets at 2.2 per cent, positioning it as one of the industry's leaders.
Its non-performing loans ratio (according to State Bank of Vietnam norms) remained low at just 1.46 per cent, below the industry average.
As of September 30 HDBank's total consolidated assets were worth VNĐ629 trillion ($24.9 billion), up 23.9 per cent from a year earlier.
Its credit growth for the year was 16.6 per cent as against the industry average of 9 per cent.
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