Many banks have finalised the dates of their annual general meeting of shareholders for March and April, with many expecting high dividend rates that will attract shareholders' attention.
Nam A Commercial Joint Stock Bank (UPCoM: NAB) will be the first bank to hold the annual general meeting of shareholders this year.
The event is scheduled to take place on March 17. The deadline for the shareholders to register their attendance in the meeting is February 21. The venue of the event has not been announced yet.
By April, banks that are expected to hold the annual general meetings of shareholders are VietinBank (HoSE: CTG), Saigon-Hanoi Bank (HoSE: SHB), Eximbank (HoSE: EIB), and LienVietPostBank (HoSE: LPB).
The Board of Directors of VietinBank announced that the 2023 annual general meeting of shareholders would be held on April 21 in a face-to-face meeting format. It is the first bank in four State-owned commercial banks to announce this year's meeting schedule.
The last date to register is March 10.
VietinBank's announcement states that the expected content of the 2023 annual general meeting of shareholders includes reports of the Board of Directors, Board of Management and Supervisory Board on business results in 2022 and orientation and plan in 2023.
At SHB, the general meeting of shareholders is scheduled to take place on April 11. The last day to make a list of attending shareholders is March 3.
Meanwhile, LienVietPostBank is expected to hold the meeting in April but has not fixed a specific date.
It only announced information about the last registration date to exercise the right for shareholders to nominate candidates to elect members of the Board of Directors and the Board of Supervisors for the term of 2023-28 and attend the 2023 annual general meeting of shareholders on February 23.
Eximbank's 2023 annual general shareholders meeting is expected to be held on April 14 in HCM City. The closing date for the shareholders' attending registration is March 15. Details of the meeting have not been announced yet.
At the second extraordinary general meeting of shareholders on February 14, Chairman of the Board of Directors Luong Thi Cam Tu revealed that in 2022, Eximbank held the leading position in terms of profit growth in the banking industry.
Last year, its profit reached more than VND3.7 trillion (US$156 million) before tax, three times higher than the previous year and exceeding 280 per cent of the set profit plan.
At the upcoming annual general meeting of shareholders, Eximbank will finalise business results and expect a high dividend payout ratio.
High dividend rates
Vietnam International Commercial Joint Stock Bank (HoSE: VIB) has closed the list of shareholders exercising the right to attend the meeting on February 10 but has not announced the specific time and meeting venue. It normally holds the meeting in mid-March.
VIB has just issued a resolution approving the implementation of the plan to advance 2022's cash dividends for existing shareholders with an advance amount of more than VND2.1 trillion, equivalent to 10 per cent of charter capital.
VIB once said that if it is approved by the general meeting of shareholders and the State Bank of Vietnam (SBV), it can pay a cash dividend of up to 35 per cent of charter capital, which means that each shareholder owning 1 VIB share can receive a dividend of VND3,500.
Similarly, KB Securities Vietnam (KBSV) recently revealed that Asia Commercial Joint Stock Bank (HoSE: ACB) is planning to pay a dividend at the same rate in 2021 of 25 per cent, but whether the payment is in cash or shares has not been determined and the bank must wait for SBV's opinion. — VNS