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VietinBank to issue 564 million shares to pay dividend

The Saigon Times

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HCMC – Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), whose CTG shares are traded on the Hochiminh Stock Exchange, has announced its plan to issue more than 564 million shares to pay dividend to its existing shareholders.

With the stock dividend payment at 11.745%, each shareholder will receive 117,415 new shares for every one million shares held. The bank will finalize the shareholder list for dividend payment on December 1.

If the share issuance is successful, VietinBank’s charter capital will increase from VND48,058 billion to VND53,701 billion, still ranking fourth in the banking system in terms of charter capital.

VietinBank recorded net profit of VND13.1 trillion in the third quarter of this year, inching up by 1.3% year-on-year.

In the January-September period, VietinBank’s consolidated before-tax profit exceeded VND17.4 trillion, a 10.4% increase compared to the same period in 2022.

Closing the trading session today, November 23, CTG fell by 1.35% over yesterday’s session to VND29,200, with over 1.9 million shares traded.

The widespread selling pressure dragged down the VN-Index of the Hochiminh Stock Exchange by 25.33 points, or 2.27% against yesterday’s session, at 1,088.49 points. In today’s trading, 109 stocks gained value, while 397 stocks witnessed a decline, with 34 of them hitting the floor prices.

The trade volume totaled over 1.02 billion shares worth VND20.6 trillion, up 9% in volume and 2% in value. Block deals contributed nearly VND1.48 trillion to the total value, with nearly 76 million shares matched.

In the VN30 basket, only VHM remained unchanged from yesterday’s session, while the rest fell into negative territory. MWG and SSI witnessed significant declines as they both fell by over 6% to VND37,300 and VND30,900, respectively.

NVL took the lead by liquidity on the southern bourse with 59.2 million shares changing hands. Closing the trading session, NVL dropped by 2% to VND17,000 per share.

On the northern bourse, the HNX-Index shed 5.95 points, or 2.58%, against yesterday’s session, at 224.54 points, with 60 advancers and 107 decliners. The total trading volume reached 129 million shares, with a value of over VND2.6 trillion.

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