Lien Viet Post Joint Stock Commercial Bank ( LPBank - HoSE: LPB) has just announced the Board of Directors' Resolution on submitting to the General Meeting of Shareholders for approval to adjust the bank's charter capital increase plan in 2024.
Accordingly, LPBank's Board of Directors has approved the temporary suspension of procedures to implement the plan to offer shares to existing shareholders to increase charter capital in 2024.
The bank's Board of Directors said it will submit to the General Meeting of Shareholders for approval the adjustment of the charter capital increase plan in 2024 through the issuance of shares to pay dividends from undistributed after-tax profits in 2023 at the nearest General Meeting of Shareholders to ensure maximum shareholder benefits.
The expected dividend payout ratio is 16.8%. According to LPBank's General Meeting of Shareholders documents, in 2023, the bank recorded a profit after tax and provision for funds in 2023 of VND 4,236 billion, after adding the remaining profit from previous years and LPBank's equity surplus of more than VND 4,345 billion.
Thus, if the plan to pay dividends in shares is approved, LPBank's charter capital will increase by VND25,576 billion to VND29,873 billion.
Previously, LPBank's 2024 Annual General Meeting of Shareholders approved a plan to increase charter capital by offering an additional 800 million shares at a par value of VND10,000 to existing shareholders to increase capital by an additional VND8,000 billion. After the offering, LPBank's charter capital is expected to increase from VND25,576 billion to VND33,576 billion.
The General Meeting of Shareholders also approved not to pay dividends for the next three years to build a foundation and strengthen financial capacity by using profits to supplement capital for business operations.
On May 17, the State Bank of Vietnam also issued a document approving LPBank's plan to increase its charter capital by a maximum of VND8,000 billion by offering shares to existing shareholders.
On May 31, LPBank also announced the organization of an extraordinary General Meeting of Shareholders to elect additional members of the Board of Directors for the fourth term (2023 - 2028). The expected time to hold the meeting is August 2024, at the 4th floor, LPBank Tower, 210 Tran Quang Khai, Hoan Kiem, Hanoi .
The last registration date for shareholders and groups of shareholders to exercise their right to run for election, nominate and attend the 2024 Extraordinary General Meeting of Shareholders of LPBank is July 1, 2024.
In the market, in the afternoon trading session on June 26, LPB shares were traded at VND 28,600/share with a trading volume of more than 4.1 million units .
Source: https://www.nguoiduatin.vn/lpbank-muon-thay-doi-phuong-an-tang-von-dieu-le-a670122.html
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