A customer at an HDBank office. Photo courtesy of HDBank

HÀ NỘI — The Hồ Chí Minh Stock Exchange (HoSE) said that August 27 will be the last registration date for Hồ Chí Minh City Development Joint Stock Commercial Bank (HDBank, HDB) to complete a list of shareholders entitled to receive dividends in 2020 in shares.

Based on the approved plan, the bank is expected to issue 398.4 million shares to pay dividends to shareholders with a rate of 25 per cent and increase capital by nearly VNĐ4 trillion (US$174 million). 

The capital source for issuance is from accumulated undistributed profits according to the 2020 financial statements which have been audited and made provision for funds.

After completing the dividend payment, HDBank's new charter capital will reach over VNĐ20 trillion, which is ready for a higher growth plan according to the proposed strategy.

Recently, HDBank announced the Basel III implementation. International credit rating agency Moody's Investors Service (Moody's) has just upgraded its credit rating outlook from "Stable" to "Positive" as HDBank's baseline credit assessment (BCA) maybe upgraded in the next 12 - 18 months. According to Moody's, the bank's capital capacity will continue to be stable, meeting the total asset growth plan.

HDBank is forecasted to record positive business results with better growth than the industry on average.

On the stock market, HDB shares, which are listed on HoSE, closed yesterday's trade at VNĐ32,900 per share, up 1.23 per cent. VNS