BizLIVE - Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has just announced that on August 27th, 2021, it will finalize the list of shareholders entitled to receive a stock dividend in 2020 at the rate of 25%.
HDBank Finalizes the List of Shareholders to Receive Dividends at 25% Ratio
Photo: HDBank
Information published by the Ho Chi Minh City Stock Exchange stated that August 27, 2021 will be the last registration date for HDBank to make a list of shareholders entitled to receive 2020 stock dividends.
Specifically, according to the approved plan, the bank is expected to issue 398.4 million shares to pay dividends to shareholders with a distribution rate of 25% and increase capital by more than VND3,984 billion. The source of capital for issuance is from accumulated undistributed profits according to the 2020 financial statements which were audited and fully reserved.
After completing the dividend payment, HDBank's new charter capital will exceed VND 20,073 billion, ready for a high growth plan according to the proposed strategy.
Recently, HDBank announced the implementation of Basel III. Furthermore, international credit rating agency Moody's Investors Service (Moody's) recently upgraded its Rating Outlook from "Stable" to "Positive" with the assessment that HDBank's baseline credit rating (BCA) may be upgraded in the next 12 to 18 months. According to Moody's, the bank's capital capacity will continue to have a stable trend to meet the total asset growth plan.
Overcoming the pandemic, HDBank is forecasted to achieve positive business results with key metrics improvements that are higher than the industry average. Currently, the bank's stand-alone non performing loan is at only 0.8%, among the best in the industry. According to Ban Viet Securities, HDBank's NIM will increase from the second quarter of the year compared to the first quarter. Service income has increased sharply with a positive contribution from the bancassurance, demonstrating customer acceptance as well as room for growth. As a result, HDBank's income in 2021 is forecasted to increase by 35% - 38% compared to 2020 and higher than plan.

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