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Wednesday, July 17, 2024

Lender TPB to issue stock dividend of 39%

The Saigon Times

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HCMC – Tien Phong Commercial Joint Stock Bank (TPBank), whose TPB shares are traded on the Hochiminh Stock Exchange, plans to issue nearly 620 million shares to pay dividends, according to a resolution approved at its 2023 general meeting.

The bank will record the list of shareholders eligible for the dividend payment on June 12.

According to its dividend payment plan, existing shareholders will get 3,919 new shares for every 10,000 shares held, hence a dividend of over 39%.

When it is done, the bank’s chartered capital would increase to VND22,016 billion from the current VND15,817 billion, with nearly 2.2 billion outstanding shares.

In April, TPBank paid a cash dividend of 25% to its existing shareholders, meaning shareholders will receive VND2,500 for each TPB share held. This translated into the spending of nearly VND4 trillion.

This year, the bank looks to increase its pre-tax profit by 11% to VND8.7 trillion, raise its total assets by 7% to VND350 trillion, improve individual and business deposits at the bank by 6% to VND306,960 billion, and keep the capital adequacy ratio at 12.6%.

TPBank’s revenue in the first quarter of the year edged up 9% year-on-year to over VND1.7 trillion. It posted more than VND1.7 trillion in pre-tax profit, up 8.7% over the same period in 2022, and achieved 20.29% of its 2023 full-year pre-tax profit plan.

TPB closed the trading session today, June 6, down 1.15% from the previous session to VND25,800 per share and reported a matching volume of over 10 million shares.

On the southern bourse, winners outnumbered losers by 262 to 121, helping the benchmark VN-Index of the Hochiminh Stock Exchange add 10.49 points, or 0.96% higher than the session earlier, to 1,108.31 points.

However, trade volume and value on the HCMC market declined 11% day-on-day, with 842.7 million shares valued at over VND15.6 trillion changing hands. More than 60 million shares were transacted in block deals contributing around VND1.3 trillion to the overall value.

Bluechips VHM, VCB, VIC, MBB and TCB were the main driver today as they contributed 5.1 points to the main index.

In the VN30 basket, POW, TPB, MSN, PLX, VNM, and CTG contracted from 0.2% to 1.1%. Other bluechips ended in the green, helping the VN30-Index gain 11.24 points over the previous session to 1,102.32 points.

Securities broker SSI increased the sharpest with a gain of 4.4% and was the second most traded stock on the bourse with a matching volume of 34.3 million shares.

Securities stocks stole the limelight today, with many of them ending the day in the green with high trade volume.

VND took the lead by liquidity with 52.2 million shares traded, finishing the day at its upper limit at VND19,300 per share.

VIX, ORS, FTS, HCM, BSI, CTS, APG and VCI rose by between 2.5% and 4.8%, with matching volumes ranging from 1.6 million shares to 20.6 million shares.

On the northern bourse, the HNX-Index of the Hanoi Stock Exchange rose 2.16 points, up 0.95% day-on-day, to 228.72 points, with 117 advancers and 67 decliners.

There were 130 million shares worth VND19 trillion changing hands on the northern market.

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