The State Bank of Vietnam (SBV) has issued official document approving Asia Commercial Joint Stock Bank (ACB) to increase charter capital from 16.627 trillion dong to 21.615 trillion dong in the form of issuing shares to pay dividends from the source of profits that can be used to pay dividends in 2019 under the capital raising plan approved by ACB’s shareholders meeting.
The document clearly stated that ACB is responsible for implementing the increase of charter capital in accordance with the law, including compliance with the share ownership limit of shareholders, shareholders and related persons of these shareholders under the provisions of the 2010 Law on Credit Institutions (amended and supplemented) and the SBV’s guiding documents after raising capital.
Recently, the Board of directors of ACB has also made decision to carry out a plan to issue shares to pay dividends in 2019. Specifically, the bank expects to issue 498.8 million shares to pay dividends to shareholders, equivalent to the total issuance value at par value of 4.988 trillion dong. The rate of issuance is 30%. It means that for 10 shares held, a shareholder will receive three new shares. The expected implementation is in the fourth quarter of 2020.
