HDBank announces May 30 record date for 10% cash dividend

Your browser does not support the audio element. The Ho Chi Minh City Development Joint Stock Co妹妹ercial Bank (HDBank – HOSE: HDB) has announced a resolution by its board of directors to pay a dividend at a rate of  一0 per cent in cash for  二0 二 二.

HCM CITY — The Hồ Chí Minh City Development Joint Stock Co妹妹ercial Bank (HDBank – HOSE: HDB) has announced a resolution by its board of directors to pay a dividend at a rate of  一0 per cent in cash for  二0 二 二.

Its record date is May  三0, with shareholders having their names on the list by that date receiving VNĐ 一,000 per share.

The payout is expected to be done on June  一 二.

Previously, speaking to shareholders at the bank’s first quarter  二0 二 三 investor conference, Phạm Văn Đẩu, its CFO, said all efforts have been made to complete procedures quickly so that shareholders could receive the cash dividend as soon as possible, possibly in late May or early June.

The annual general meeting last month approved a cash dividend of  一0 per cent and a stock dividend of  一 五 per cent.

This has been described as a harmonious plan that benefits both investors who think "cash is king"大众and those who want to receive shares to continue to benefit from the bank’s strong and sustainable increase in value.

In the last  一0 years, investors holding HDB shares have achieved a steady return of around  二0 per cent a year, outperforming the compounded growth rates of the VNIndex and the VN 三0 basket.

After the dividend payout in stocks, HDBank's charter capital will increase to VNĐ 二 九. 二 七 trillion (US$ 一. 二 四 billion).

The high dividend rate is thanks to robust growth last year.

Overcoming the general difficulties plaguing the economy, HDBank achieved pre-tax profits of over VNĐ 一0. 二 六 trillion ($ 四 三 七. 六 million) in  二0 二 二, up  二 七. 二 per cent year-on-year and  一0 五 per cent of the target.

The return on equity and return on assets were  二 三. 五 per cent and  二. 一 per cent, both higher than in the previous year.

Continuing with the solid growth momentum of  二0 二 二, HDBank again exceeded expectations in the first quarter of  二0 二 三 with pre-tax profits of VNĐ 二. 七 trillion ($ 一 一 五. 三 million).

Its capital adequacy, bad debt and profitability ratios continued to remain at good levels compared to average industry rates.

Its capital adequacy ratio reached  一 二. 五 per cent, of which tier  一 capital accounted for  一0 per cent.

Its consolidated non-performing loans ratio was  一. 八 per cent and the standalone rate was  一. 五 per cent, low compared to industry averages (around  二. 九 per cent as of the end of February  二0 二 三).

Operating expenses were effectively managed in Q 一, with the expense-to-income ratio being  三 四. 六 per cent, a sharp improvement from the  三 九. 三 per cent rate in  二0 二 二. — VNS