Hochiminh City Development Joint Stock Commercial Bank (HDBank, coded HDB) has just announced the resolution of the Board of directors about the first round 2017 dividend payment in cash.
Specifically, the bank’s board of directors agreed to approve HDBank’s dividend pay-out ratio at 13 percent (or 1,300 dong per share). The record date will be on June 21, 2018. The implementation time will be on July 5, 2018.
With nearly 981 million shares in circulation, it is expected that HDBank will spend about 1.275 trillion dong on paying dividends this time.
Earlier, the annual general meeting approved the dividend pay-out ratio in cash at 15 percent with the capital of 1.472 trillion dong. In addition, HDBank also plans to issue bonus shares at 20 percent, about 1.962 trillion dong by par value.
Recently, at the investment conference, HDBank leader said after making dividend payment in cash at 13 percent, shareholders will be paid 22 percent dividends right after the completion of the merger with PGBank.
Regarding the updated business results, HDBank said as of the end of May, the bank’s credit growth touched more than 14 percent. HD Saison consumer finance company alone served more than 3.9 million customers, up 151.91 percent year-on-year. With the merger with PGBank in the near future, the bank will raise the profit target to more than 4.712 trillion dong instead of 3.933 trillion dong without this deal.
