Eximbank is about to pay cash dividends after a decade

Vietnam Export Import Commercial Joint Stock Bank (Eximbank - HoSE: EIB) has just announced the Board of Directors' Resolution on implementing the dividend payment plan with a total rate of 10%.

In particular, the bank plans to pay cash dividends from accumulated undistributed profits up to 2023 after setting aside funds of VND552 billion. The specific payment time has not been informed by the bank.

At the same time, Eximbank plans to issue shares to pay dividends to shareholders. Accordingly, the bank plans to issue nearly 121.9 million new shares. After the issuance, the bank's charter capital is expected to increase by VND1,219 billion to VND18,688 billion.

Thus, from 2014 to now, after a decade, Eximbank shareholders have received cash dividends again. After paying cash dividends at a rate of 4% in 2024, during the period from 2015 to 2023, Eximbank did not pay cash dividends.

Previously, in 2023, Eximbank paid stock dividends to shareholders twice at rates of 20% and 18%.

Specifically, in February 2023, the bank issued shares from retained earnings of 2017, 2018, 2019, 2020 and 2021 at a rate of 20%, with a total value of VND 2,459 billion.

By October 2023, Eximbank will continue to issue 265 million shares from accumulated profits from previous years (end of 2021) and 2022, increasing charter capital to VND 17,470 billion.

Regarding business performance, at the end of the first quarter of 2024, Eximbank reported pre-tax profit of more than VND 661 billion, down 24% year-on-year. Customer loans increased by 5% to VND 147,021 billion, while customer deposits increased by 3% to VND 160,659 billion.

Regarding loan quality, Eximbank's total bad debt is VND4,203 billion, up 13% compared to the beginning of the year. Of which, substandard debt increased sharply by 85%. As a result, the ratio of bad debt to outstanding loans increased from 2.65% at the beginning of the year to 2.86%.

In the market, in the morning session of May 31, EIB shares were being traded around the price of VND 20,050/share with a trading volume of more than 6.7 million units .

Source: https://www.nguoiduatin.vn/eximbank-sap-chia-co-tuc-bang-tien-mat-sau-1-thap-ky-a666217.html