Vietcombank Approves Nearly 22.8 Trillion VND Profit for 2023 to Pay Dividends

Vietcombank’s Board of Directors has approved the profit distribution plan for 2023, with total after-tax profit reaching over 32.548 trillion VND. After allocating various reserves, the bank will have over 22.770 trillion VND available for dividend payments in the form of shares to shareholders. Vietcombank plans to issue over 2.76 billion shares, equivalent to a dividend rate of 49.5%, marking the highest share dividend distribution rate ever. The bank has set March 13 as the final registration date for shareholders, with plans to allocate dividends from retained earnings over the years. Despite having the largest profits in the banking system, the approval process for dividend payments requires consent from regulatory bodies, resulting in an increasing amount of undistributed profits.