OCB closes the list of shareholders to receive a dividend of 25% in shares

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(TCK) Orient Commercial Joint Stock Bank (OCB) has just announced that August 3 is the last registration date to close the list of shareholders paying dividends in shares as August 3, 2021, the issuance rate 25%.

Recently, on July 19, according to a notice issued by the State Securities Commission (SSC), this agency has received a complete report on the issue of shares to pay dividends of OCB, OCB will issue nearly 274 million shares paying 25% dividend.

Previously, in June 2021, the State Bank also approved in writing for OCB to increase its capital by a maximum of nearly 2,740 billion dong, from undistributed after-tax profit. Accordingly, the bank’s charter capital will increase from VND 10,959 billion to VND 13,698 billion.

In addition to the 25% dividend, the 2021 Annual General Meeting of Shareholders also “closed” two other components of OCB’s capital increase: offering 5 million shares under the employee selection program (ESOP) at the price of 10,000 VND/share. Shares are restricted from being transferred for 4 years from the date of issuance, the rate of release is 25% per year.

After implementing all 3 issuances, OCB’s charter capital will increase to VND 14,449 billion. Currently, OCB has not announced the time to issue ESOP shares as well as private placement.

OCB said that the additional capital will be supplemented with business capital, investment and lending, the rest for procurement and construction of facilities. In 2020, the bank offered to sell 15% of capital to Aozora Bank and paid a 25% stock dividend.

In 2021, OCB sets a target with an estimated pre-tax profit of VND 5,500 billion, up 25% compared to 2020; increased charter capital to nearly 14,450 billion dong from the current 10,959 billion dong, equivalent to an increase of 32%; Dividend target is 20 – 25%.

At the end of the first quarter of 2021, OCB’s pre-tax profit reached VND 1,276 billion, up 15.2% over the same period last year and completing 23% of the year plan.

Closing the trading session on July 21, OCB’s stock price stood at VND 27,800/share. The stock has fallen about 10% since the beginning of July.

Source: tinnhanhchungkhoan.vn – Translated by fintel.vn