During the 2024 Annual General Meeting of Shareholders, a series of banks have finalized the dividend payout ratio for the past business year. However, there are still banks that do not pay dividends, leaving shareholders disappointed.
For example, at the recent 2024 Annual General Meeting of Shareholders, An Binh Commercial Joint Stock Bank (stock code ABB) proposed to retain all remaining undistributed profits to supplement capital sources to implement the strategic plan, creating internal accumulation to increase charter capital in the future. ABB's total undistributed profits are currently VND 1,840.7 billion. This means that shareholders will not receive dividends. The Chairman of the Board of Directors of ABBank explained that the bank needs to spend money to invest and build a foundation. Therefore, we hope that shareholders will be patient so that we can reap sweeter fruits because strategies cannot be done quickly, they need time and perseverance.
Sacombank has not paid dividends for many years.
Or Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has just announced the documents for the 2024 Annual General Meeting of Shareholders. In Sacombank's submission on the profit distribution plan for the 2023 fiscal year and the profit distribution plan for the 2024 fiscal year, there is no mention of the dividend plan. Sacombank's consolidated profit after tax and fund allocations at the end of 2023 is more than VND 5,700 billion. If the consolidated profit retained from previous years is calculated, the cumulative profit up to this year will be more than VND 18,300 billion. This is the 9th year Sacombank has not paid dividends. Previously, at the 2023 Annual General Meeting of Shareholders, answering questions from shareholders about dividends, the Chairman of the Board of Directors of Sacombank said that Sacombank is a special bank, subject to restructuring, so it cannot pay dividends yet.
Some are sad, some are happy during dividend season
Similarly, Tien Phong Commercial Joint Stock Bank (stock code TPB) also released documents for the shareholders' meeting. Accordingly, the 2023 audited financial report recorded a profit after tax of VND 4,463 billion. After setting aside funds, the remaining undistributed profit was VND 3,697 billion. However, TPBank has not proposed to pay dividends this year.
Another bank that does not plan to pay dividends is Lien Viet Post Joint Stock Commercial Bank (stock code LPB). According to the documents of the 2024 Annual General Meeting of Shareholders scheduled to be held on April 17, this bank submitted to shareholders a plan not to pay dividends for the next three years, in order to build a foundation and strengthen financial capacity by using profits to supplement capital for business operations and invest in key projects. All remaining profits after setting aside funds in 2023, remaining profits from previous years carried over and the bank's equity surplus currently reach more than VND 4,345 billion...
Source: https://thanhnien.vn/co-dong-nhieu-ngan-hang-ngam-ngui-vi-khong-duoc-chia-co-tuc-185240409084345123.htm
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