Vietnam Maritime Commercial Joint Stock Bank (MSB) has just issued a document announcing the Board of Directors' Resolution approving the results of the share issuance to pay dividends to the bank's existing shareholders.
Accordingly, the bank has completed issuing 600 million shares to shareholders with an exercise rate of 30% (equivalent to shareholders owning 100 shares will receive 30 new shares) on August 29, 2024.
The source of capital used to increase charter capital is undistributed profit after tax, including 2023 profit after tax after fully setting aside funds and undistributed profit from previous years that can be used to pay dividends based on MSB's audited financial statements as of December 31, 2023.
MSB said it had distributed more than 599.9 million shares to 34,710 shareholders and the remaining 4,770 odd shares were distributed to the bank's union. After the issuance, the total number of outstanding shares of MSB increased to 2.6 billion shares, equivalent to a charter capital of VND26,000 billion.
Last June, MSB also announced the Board of Directors' Resolution approving the implementation of increasing charter capital in 2024 through issuing shares to pay dividends to existing shareholders. This plan was later approved by the State Bank.
According to information on the total current and expected foreign investor ownership after capital increase, as of March 31, 2024, MSB has only one major domestic shareholder, Vietnam Posts and Telecommunications Group ( VNPT ).
The group owns nearly 121 million shares, equivalent to 6.05% of charter capital. After the capital increase, VNPT's shares held increased to 157 million shares but the ownership ratio remained unchanged.
The purpose of MSB's issuance is to strengthen the bank's competitive position by increasing charter capital, consolidating capital buffers and improving financial safety indicators, supporting medium and long-term credit sources, upgrading facilities and investing in the bank's system.
Regarding the plan to use capital after issuing shares to pay dividends, MSB plans to supplement capital for business operations, customer loans, ensuring effective use of capital and compliance with relevant legal regulations.
Source: https://www.nguoiduatin.vn/msb-hoan-tat-tang-von-dieu-le-len-26000-ty-dong-204240914151130944.htm
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