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VIB to pay additional cash dividend of 6.5%

The Saigon Times

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HCMC – Vietnam International Commercial Joint Stock Bank (HOSE: VIB) has plans to pay an extra dividend of 6.5% in cash for 2023, equivalent to VND650 per share.

With more than 2.5 billion outstanding shares, the bank will spend around VND1.65 trillion on the dividend payment. The record date to finalize the shareholder list is April 18, and the payment date is May 17.

This follows a 6% dividend payment made on February 21, bringing the total cash dividend for the year to 12.5%.

According to its 2024 business plan, the bank looks to book pre-tax profit of over VND12 trillion, rising 13% over 2023.

The plan points out the bank’s total assets would rise by 20% to VND492 trillion, and its outstanding loans and mobilized capital would grow by 20% to VND320.6 trillion and 21% to VND315.2 trillion.

VIB aims to maintain a bad debt ratio below 3% this year. For the first-quarter results, the bank earned pre-tax profit of VND2.6 trillion.

Closing the trading session today, April 11, VIB stayed at its reference price of VND22,900, with a matching volume of nearly 4.6 million shares.

The VN-Index moved sideways with a slight decline of 0.03%, losing 0.36 points to 1.258.2 points, although losers doubled winners by 308 to 150 at the close.

Stock trade dropped by 2% in both volume and value over the previous session, with 686.8 million shares valued at VND16.5 trillion changing hands. Block deals contributed 43.9 million shares worth VND1.4 trillion.

Large-cap stocks like BID, HPG, FPT and GVR helped keep the market afloat. They collectively contributed 2.34 positive points to the main index.

Developer NVL remained the most actively traded stock on the HCMC exchange, with a trading volume of 32.7 million shares.

In contrast, the HNX-Index of the Hanoi Stock Exchange recorded a modest uptick of 0.28 point, or 0.12%, to 239.07 points, with 88 advancers and 80 decliners.

The trade volume on the northern exchange surpassed 75 million shares worth VND1.6 trillion.

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