Vietnam Maritime Commercial Joint Stock Bank (HoSE: MSB) has announced that August 29, 2024, will be the final registration date for shareholders to exercise their right to receive dividends for 2023. The dividends will be paid in shares at a rate of 30%.
MSB plans to increase its capital by issuing new shares as dividends, utilizing retained earnings based on the audited financial statements as of December 31, 2023, after allocating funds in accordance with legal requirements. The issuance rate is set at 30% of the total outstanding shares, meaning shareholders will receive 30 additional shares for every 100 shares they own. This move will result in the issuance of an additional 600 million shares, making MSB the bank with the highest dividend payout this year.
Following this capital increase, MSB’s total outstanding shares will rise to 2.6 billion, bringing the bank’s new charter capital to VND 26,000 billion.
The State Bank and the State Securities Commission have already approved this capital increase proposal. This boost in charter capital is expected to strengthen MSB’s financial capacity, enhance its competitiveness, and support its business development and risk management strategies. Moreover, it will serve as a strong foundation for accelerating the bank’s digitalization and sustainability efforts.
In its recently announced second-quarter business results, MSB reported stable growth across key indicators. As of June 30, 2024, the bank’s total assets surpassed VND 295,500 billion, marking a 10.69% increase compared to the end of 2023. Individual credit growth reached 12.41%, while customer deposits and valuable papers rose by 15% and 64%, respectively, compared to the end of the previous year. MSB’s consolidated total net income (TOI) for the first half of the year amounted to VND 7,031 billion, reflecting a 10% year-over-year increase. The bank also recorded a consolidated pre-tax profit of nearly VND 3,690 billion, up 4% from the same period last year, achieving 54% of its annual profit target.
Beyond its financial growth, MSB remains committed to its sustainable development strategy, integrating environmental, social, and governance (ESG) factors into its operations. The bank regularly publishes a Sustainable Development Report, which details its progress in “greening” its operations and outlines specific goals for each year. MSB was among the first banks in the market to release such a report, with the inaugural edition published on September 15, 2023, covering its 2022 activities.
The June 2024 report highlighted a reduction in the bank’s carbon emissions in 2023 compared to the previous year, along with commitments and actions aimed at achieving long-term sustainability goals. MSB views this report as a key communication tool for conveying the impact of its business activities on the economy, environment, and society, and it plays a crucial role in enhancing the bank’s market position.
MSB’s focus on sustainability is also evident in its risk management frameworks, green financial solutions for customers, and environmentally friendly internal practices. The bank has recently received several ESG awards in recognition of these efforts.
As a reputable listed organization, MSB prioritizes effective investor relations to maximize shareholder value. Additionally, the bank has made significant contributions to the State budget, totaling over VND 4,362 billion in the past three years, ranking it among the top 10 banks with the largest budget contributions.
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Source: Vietnam Insider