Eximbank Announces Cash and Stock Dividends
Eximbank has announced a cash dividend of 3% and a stock dividend of 7% for its shareholders. For the cash option, the bank will distribute a dividend of VND 300 per share, totaling an estimated VND 522 billion. The specific record and payment dates have not yet been announced.
The last time Eximbank shareholders received a cash dividend was in 2014, with a payout of 4% from the profits of 2013.
For the stock dividend, the bank plans to issue 121.9 million new shares, resulting in a 7% increase for existing shareholders. If approved, the bank’s charter capital will increase from VND 17,469 billion to VND 18,688 billion. The issuance date has not been finalized but is expected to take place this year.
The additional capital will be utilized to invest in physical infrastructure, technology upgrades, construction of new premises, expansion of the bank’s network, and enhancement of its fixed assets and business operations.
In 2023, Eximbank distributed two stock dividends, the first in February, with a ratio of 20%, and the second in October, with an 18% ratio. The total amount paid out for the first dividend was VND 2,459 billion, utilizing retained earnings from 2017 to 2021. The second dividend was distributed from retained earnings of previous years and the profits of 2022.
Huge Volume of Off-Exchange Trades
In other news, EIB has witnessed a significant volume of off-exchange trades in May 2024. Over 155 million shares were traded, totaling nearly VND 2,805 billion, with an average price of VND 18,062 per share. Notable sessions include May 24 (24.2 million shares), May 21 (16.4 million shares), May 15 (15.3 million shares), and May 6 (29.4 million shares). These off-exchange trades occurred at prices 3-15% lower than the market price.
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Off-Exchange Trades of EIB in May 2024
Source: VietstockFinance
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As of the market close on May 31, EIB shares are trading at VND 19,950 per share, reflecting a year-to-date increase of nearly 9%. The average daily trading volume stands at 12 million shares.
| Price Movement of EIB Shares Year-to-Date |
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