The Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) has announced that it will pay cash dividends to the shareholders of 2016.

The payment rate will be 7 per cent, meaning that for each share, the shareholders will receive VND700 (31 US cents). At this rate, the bank will pay dividend worth VND2.6 trillion for 3.72 billion shares held by the stakeholders.

Of the total dividend, the State Bank of Viet Nam, which is holding 64.46 per cent of the bank’s charter capital, as of June 30, 2017, will receive VND1.68 trillion. The Bank of Tokyo-Mitsubishi UFJ, the bank’s strategic investor, will get VND514 billion, thanks to its ownership of 19.73 per cent of Vietinbank’s charter capital.

The dividend is scheduled to be paid on October 17. The last day for the investors to register for reception of the dividend is September 28.

The dividend is subject to individual income tax of 5 per cent, and the dividend that the shareholders will receive is already taxed. — VNS