On May 2, Techcombank’s Board of Directors issued a resolution to implement a cash dividend and bonus share distribution.
Specifically, the last registration date for cash dividend entitlement is May 22, 2024. The implementation ratio is 15% per share, meaning that for every share, shareholders will receive VND 1,500. The estimated amount for cash dividend payout is VND 5,283 billion. The cash dividend payment date is June 5, 2024.
In addition, Techcombank’s BOD also approved a plan to increase charter capital through a share issuance from its equity source, in accordance with the resolution passed at the 2024 Annual General Meeting of Shareholders.
Accordingly, Techcombank will issue over 3.5 billion shares to shareholders, corresponding to an issuance ratio of 100% (shareholders owning 1 share will receive 1 share subscription right, and 1 share subscription right will receive 1 new share). After the issuance, Techcombank’s charter capital will double to nearly VND 70,500 billion. The expected issuance period is within 45 days from the date the SSC receives complete issuance report documents, expected to be completed in 2024.
It is noted that 2024 marks the first year in the past decade that Techcombank has resumed cash dividend distribution. Meanwhile, for stock dividend distribution, the most recent implementation was in 2018 with a distribution ratio of up to 200%.
Recently, Techcombank announced its Q1 2024 consolidated financial statement with pre-tax profit reaching VND 7,802 billion, an increase of 38.7% compared to the same period in 2023. Accordingly, Techcombank is the bank with the second highest profit in the system, after Vietcombank.
At the end of Q1 2024, Techcombank’s total assets increased by 4.3% compared to the end of 2023, reaching VND 885.7 trillion. For the parent bank alone, credit grew by 6.4% compared to the beginning of the year to VND 563.9 trillion. Techcombank’s customer deposits grew by an impressive 18.3% year-on-year and remained stable compared to the beginning of the year, reaching VND 458 trillion. Notably, non-term deposits (CASA) increased by 49.4% year-on-year and 2% compared to the end of 2023, raising the ratio of non-term deposits to total deposits to 40.5%, the highest in the industry.
