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BIDV to issue 642 million shares to pay dividend

The Saigon Times

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HCMC – Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) would issue 642 million shares for dividend payment, with November 29 set as the record date.

According to its dividend payment plan, existing shareholders will get 12.69 new shares for every 100 shares held, hence a dividend of 12.69%.

Following the issuance, BIDV’s charter capital would rise from nearly VND50.6 trillion to more than VND57 trillion.

In the third quarter of 2023, BIDV reported net interest income of around VND13.8 trillion, a 2.23% decline versus the same period last year. Its pre-tax profit totaled VND5.9 trillion, down by 12% year-on-year.

From January to September, the lender posted net interest income of over VND41.2 trillion, almost unchanged from the corresponding period in 2022, while its pre-tax profit edged up 12% to VND19.8 trillion.

BIDV attributed the profit growth to its ongoing shift towards sustainable operations. The bank emphasized its commitment to credit risk management, cost reduction, and the establishment of a sustainable business structure.

Closing the trading session today, November 22, its BID shares inched down by 0.8% to VND43,600 per share.

The VN-Index of the Hochiminh Stock Exchange moved sideways as it improved by 0.3%, adding 3.36 points to 1,113.82 points, with 263 winners and 93 losers.

Trading volume and value surged 32.8% and 36% over the previous session, with 946.3 million shares worth VND20.4 trillion changing hands. Block deals contributed nearly VND2.9 trillion to the overall value, with 134 million shares traded.

Housing developer NVL stole the limelight as it shot up to its daily upper limit at VND17,350 and reported the highest trading volume on the southern bourse, at nearly 68 million shares.

On the Hanoi Stock Exchange, the HNX-Index gained 0.69 point, or 0.3%, to close at 230.49 points, with 78 advancers and 67 decliners.

There were 97.3 million shares valued at VND1.9 trillion changing hands on the northern bourse.

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