Customers at an HDBank branch in HCM City. — Photo courtesy of HDBank

The Hồ Chí Minh City Development Joint Stock Commercial Bank (HDBank – HOSE: HDB) will pay dividends of 30 per cent for 2023 including 10 per cent in cash and 20 per cent in shares, following a resolution by its board of directors.

The record date for the cash dividends is July 15 and the ex-dividend date is July 12.

The payout is likely to be on July 26.

Shareholders who have their names in the list by the record date will receive VNĐ1,000 per share.

Dividend in shares at a rate of 20 per cent will also be paid in line with the annual general meeting of shareholders (AGM)'s resolution, with each shareholder owning 100 shares receiving 20 new shares.

The record date for the dividend payment in shares will be announced after getting approval from the authorities, and is expected in the third quarter of 2024.

HDBank has led the market in terms of dividend payments for many years.

At its AGM held recently, the bank submitted a dividend payment plan for 2024 at a rate of 30 per cent, with a maximum of 15 per cent in cash.

According to its first quarter financial statement for 2024, the bank achieved credit growth of over 6.2 per cent, among the higher rates in the industry.

Its pre-tax profit topped VNĐ4.02 trillion (US$159 million), up 46.8 per cent year-on-year.

The bank tops the industry in profitability, with a return on equity (ROE) of 26.7 per cent.

It is also among the top performers in the industry in terms of capital adequacy ratio and asset quality.

For 2024, HDBank continues to have ambitious growth targets along with a comprehensive environmental, social and governance (ESG) strategy.

It targets pre-tax profits of VNĐ16 trillion ($633.9 million), an increase of 21.8 per cent, ROE of 24.6 per cent and keeping its non-performing loans ratio at below 1.5 per cent, among the lowest levels in the banking industry. — VNS