HDBank Announces 25% Dividend Payout in Cash and Stock

HDBank has continued its high growth and pioneeringly adopted sustainable development strategies.

HDBank continues to be steadfast with its sustainable development strategy, comprehensive digital transformation and green growth

Ho Chi Minh City Housing Development Commercial Joint Stock Bank (HDBank) released its documents of the 2024 Annual General Meeting of Shareholders in which a 25% dividend plan, including a 10% cash dividend and a 15% stock dividend, was proposed. In 2024, the lender planned to make a profit of VND15,852 billion, up 22% year on year, and a 30% dividend (in which the cash dividend will likely be, at most, 15%).

Accordingly, HDBank submitted various reports to its shareholders for ratification, including business results in 2023 and business plans for 2024, profit distribution plans for 2023 and various issues within the authority of the AGM.

Following its success in 2023, HDBank continued to introduce a high growth plan and adopt an inclusive ESG strategy and governance in 2024. In particular, the pretax profit plan was expected to rise 21.8% year on year to VND15,852 billion. The return on equity (ROE) ratio was forecast to reach 24.6% while the bad debt was hoped to be the best in the industry. By the end of 2024, the bank expected to have total assets of over VND700 trillion, an increase of 16%; total deposit value of over VND624 trillion, up 16%; and total outstanding debt of VND438 trillion.

HDBank proposed a 25% dividend plan, including 10% in cash and 15% in stocks, to its shareholder meeting for approval. Notably, the bank planned to pay a 30% dividend in cash and stock in 2024. Thus, after more than a decade of continuous high growth, HDBank always continues its high dividend payment tradition.

In 2024, HDBank planned to raise its registered capital by VND4,569 billion, from VND29,076 billion to VND33,645 billion, by issuing dividend shares to further improve its financial health indicators, which are already high in the industry. This is a strategic foundation for sustainable development in the following years.

HDBank continues to be steadfast with its sustainable development strategy, comprehensive digital transformation and green growth. This bank constantly improves its management capacity and applies advanced international management standards such as Basel III. The bank takes the lead in developing and implementing a comprehensive ESG strategy, releasing sustainability reports and actively exercising corporate social responsibility. Last but not least, modern digital retail banking development plans continue to be promoted

Le Phuong Vietnam Business Forum