LienVietPostBank to pay dividend in shares at rate 12%

HÀ NỘI — The State Bank of Việt Nam has approved the  二0 二0 dividend payout plan of Liên Việt Post Co妹妹ercial Joint Stock Bank (LienVietPostBank or LPB), at the rate of  一 二 per cent in shares.

Under the plan, LienVietPostBank will issue nearly  一 二 九 million shares to pay dividends for  二0 二0, equivalent to VNĐ 一. 二 九 trillion (US$ 五 六 million).

The bank will continue to carry out tranches of capital raising to increase its charter capital to more than VNĐ 一 五. 七 trillion, via private placement of  六 六. 七 million shares to foreign investors, raising the maximum foreign ownership ratio in the bank to  九. 九 九 per cent, issuing  二 六 五 million shares to existing shareholders, issuing  三 五 million shares under the employee stock ownership plan (ESOP).

LienVietPostBank sets a profit target of VNĐ 三. 二 trillion this year, up  三 二 per cent compared to  二0 二0. As of May  三 一, LienVietPostBank's pre-tax profit reached more than VNĐ 一. 七 trillion, completing nearly  六0 per cent of the yearly plan.

On the stock market, LPB shares have increased continuously in recent time, from about VNĐ 二 三,000 per share at the end of April, to over VNĐ 二 九,000 per share at present. — VNS