The Board of directors of Vietnam International Joint Stock Commercial Bank (VIB) has just approved a resolution to issue shares to increase its charter capital from 7.835 trillion to 9.245 trillion dong.
Specifically, the bank will increase capital by issuing bonus shares to existing shareholders at the rate of 18 percent. The capital used for issuance is from the investment and development fund (1.1 trillion dong), the reserve fund for supplementing the charter capital (36 billion dong) and the accumulated profit after distribution (274 billion dong).
The closing date of the list of shareholders to receive bonus shares will be decided by the Chair of the Board depending on the approval of the State Bank of Vietnam (SBV) and the Securities Commission.
In addition, the bank has just announced that it will close its list of shareholders on May 31, 2019 to pay cash dividends of 5.5 percent. The source for dividend payment of 430.9 billion dong is from profit after tax.
Recently, VIB also announced plans to sell more than 7.77 million treasury shares to reward employees in the bank.
According to the capital increase plan approved by the Annual general Meeting of Shareholders, after issuing 18 percent bonus shares, VIB will issue 18 percent of new shares to new investors, corresponding to 166.4 million shares to raise charter capital to 10.909 trillion dong.
