Eximbank (EIB) to pay cash dividend for the first time in a decade
Eximbank (EIB) to pay cash dividend for the first time in a decade
Eximbank plans to distribute its first cash dividend payout in a decade, totalling around VNĐ522 billion (US$21.3 million).
During a trading hour at a transaction office of Eximbank in Hà Nội. — VNA/VNS Photo |
The Hồ Chí Minh City Stock Exchange (HoSE) has announced the final registration date for both cash and stock dividends for the year 2023 by Eximbank.
The lender will pay a cash dividend of 3 per cent, or VNĐ300 per share. With over 1.7 billion shares in circulation, it is estimated that the bank will need to allocate approximately VNĐ522 billion ($21.3 million) for this payment.
This marks Eximbank's first cash dividend payout in a decade, with the last one issued to shareholders in June 2014.
The ex-dividend date is set for September 19, with the final registration date following on September 20. Shareholders can expect cash dividends to be disbursed by October 4.
The bank also plans to issue 121.9 million new shares at a rate of 7 per cent, meaning shareholders with 100 shares will receive seven new shares each. If the issuance is successful, the bank’s charter capital will rise from nearly VNĐ17.5 trillion to nearly VNĐ18.7 trillion.
Previously, Eximbank distributed stock dividends at rates of 20 per cent and 18 per cent for the year 2023 in February and October 2023.
In the second quarter, Eximbank saw a notable 38 per cent increase in net interest income, totalling over VNĐ1.5 trillion.
Other income also surged by over VNĐ213 billion, a threefold rise compared to the same period last year.
However, foreign exchange operations witnessed a 33 per cent decline and securities investment activities lost VNĐ5 billion.
Operating expenses rose by 21 per cent to VNĐ934 billion, while credit risk provisions increased by 24 per cent to VNĐ221 billion. The bank reported a profit before tax exceeding VNĐ813 billion, up 52 per cent from last year.
For the first half of the year, Eximbank recorded profits before tax of over VNĐ1.47 trillion, a 5 per cent increase year-on-year.
