Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has announced that it will pay 2016's dividends in cash at the rate of 8% to shareholders on October 16th.
The total dividend payment is estimated at nearly VND3,000 billion (roughly US$132.59 million). Of which, the SBV, the largest shareholder of Vietcombank, with 77.11% of shares, will receive nearly VND2,220 billion (roughly US$98.58 million).
Prior to that, the plan to pay dividends in 2016 was approved by the general shareholders' meeting of Vietcombank.
Vietcombank is the largest listed bank with a market capitalization of about US$6 billion. The total assets of Vietcombank reach nearly US$38.5 billion, ranking third among listed banks after BIDV and Vietinbank.
In the first half of this year, Vietcombank's pre-tax profit grew by 23% yoy to VND5,255 billion (US$232.38 million). The bank aims to reach VND9,200 billion (~US$407.88) pre-tax profit in 2017.
The total assets of the bank was VND849 trillion (US$37.93 billion) till June 30, up 8% from the beginning of the year. Lending grew by 14% during the same period, much higher than the 9.1% growth of the whole banking sector.
Japanese bank - Mizuho Bank - currently holds a 15% stake in Vietcombank. Last year, the bank plans to sell its stake to GIC, a Singaporean government's investment company. But the deal has not been approved so far.