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VPBank to pay 10% cash dividend

The Saigon Times

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HCMC – Vietnam Prosperity Joint Stock Commercial Bank (VPBank, ticker: VPB) has announced a 10% cash dividend for the year 2023, with the record date set for May 23, and the dividend payment scheduled for May 31.

Each shareholder will receive VND1,000 for every share held, resulting in a total payment exceeding VND7.9 trillion from its 7.9 billion outstanding shares.

This is the second consecutive year that VPBank has announced a cash dividend.

At its recent annual general meeting, VPBank approved a plan to launch an international bond issue worth up to US$400 million.

The non-convertible, unsecured and non-warranted bond comes with a term of five years. The debt sale is aimed at raising funds for green and social projects as part of the bank’s sustainable bond framework.

The bond issue is planned to take place sometime between 2024 and the first quarter of 2025.

VPBank has set ambitious goals for 2024, including a 114% increase in pre-tax profit to VND23.1 trillion. The bank expects credit growth of 25% and deposit growth of 22%, with total consolidated assets projected to rise by 19% to more than VND974 trillion.

In the first quarter of 2024, VPBank reported consolidated pre-tax profit of nearly VND4.2 trillion, up by 66% from the previous quarter and 64% year-on-year, achieving 18% of its annual profit target.

In today’s trade, VPB rose by 1.6% to VND19,100 per share, with over 20.9 million shares traded, making it the most actively traded stock on the Hochiminh Stock Exchange. The VN-Index itself edged up by 3.1 points, or 0.25%, to close at 1,243.28, supported by 226 gainers against 201 losers.

The total trading volume was over 640.49 million shares valued at VND15.6 trillion, down 14% in volume and 9% in value from the previous session. Block deals accounted for 111.36 million shares worth nearly VND2.5 trillion.

VIC gained 2.3% to VND46,050, with over 5.26 million shares changing hands. Other blue-chip stocks, including BCM, MWG, GVR, VNM, and several bank stocks in the VN30 basket, supported the VN-Index’s advance.

BCM and MWG were the top gainers among the 30 largest cap stocks, with each rising over 3%. MWG recorded a high trading volume of 16.22 million shares and saw strong foreign buying, with over 5.1 million shares acquired. MBB saw 16.66 million shares change hands, closing 0.88% higher at VND22,850.

Small and mid-cap stocks saw subdued trading, with modest gains in NVL, DXG, KBC, and NKG. Their trading volume ranged from 3.5 million to 9.8 million shares. CMG and DCL were notable gainers, rising 6.85% to VND62,000 and 6.96% to VND29,950, respectively.

The Hanoi Stock Exchange saw its HNX-Index advance 0.59 point, or 0.25%, to 236.95 points, with 89 winners and 78 losers. Trading volume reached over 87.55 million shares, valued at more than VND1.5 trillion.

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