The Board of Directors of Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank, HOSE: VCB) has just announced a Resolution on the payment of dividends in 2019 in shares and in cash in 2020.
Specifically, Vietcombank will pay 2019 stock dividend at the rate of 27.6% (shareholders owning 1,000 shares will receive 276 new shares).
Accordingly, Vietcombank plans to issue 1.02 billion shares to pay dividends in 2019. After the issuance, Vietcombank's charter capital is expected to increase by 10,236 billion VND to more than 47,325 billion VND. The last day to allocate permissions is December 23, 2021. The ex-rights date is December 22, 2021.
The issued capital comes from the remaining profit in 2019 after tax, after setting up funds and paying 8% cash dividend.
At the same time, Vietcombank will also pay a cash dividend in 2020 at the rate of 12% (shareholders who own 1 share will receive 1,200 VND). The last registration date to exercise the right to receive dividends is December 23, 2021. The ex-rights date is December 22, 2021. The date of cash dividend payment to shareholders is January 5, 2022.
Thus, with more than 3.7 billion shares outstanding, Vietcombank is expected to spend more than 4,451 billion VND to pay dividends in 2020.
The second component is a private placement of 6.5% of charter capital, equivalent to issuing more than 307.6 million shares to a maximum of 99 institutional investors with financial potential, which may include 1 or a number of existing shareholders. owned by the Bank.
The issue price is not lower than the valuation of the valuation organization and the arithmetic average of the closing price of 10 trading sessions on HOSE, immediately preceding the date when the investor announces the purchase. The time to conduct the offering is in 2021 and continues in 2022 if not completed.
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