June 25, 2021 – LienVietPostBank obtained State Bank’s approval for 2020 dividend rate of 12% in shares

LienVietPostBank (HOSE: LPB) has just obtained the State Bank’s written approval for the 2020 dividend payout plan at the rate of 12% in shares.

Accordingly, on June 24, 2021, LienVietPostBank received Document No. 4536/NHNN-TTGSNH from the State Bank of Vietnam approving the increase of the Bank’s charter capital by dividend payout to existing shareholders, the rate of 12% in shares. Funds for implementation are taken from profits in 2020.

After completing the 2020 dividend payout, the bank will continue to carry out tranches of capital raising under the plan approved by the Bank’s 2021 Annual General Meeting of Shareholders to increase its charter capital to more than VNĐ15.7 trillion, via private placement of 66.7 million shares to foreign investors, raising the maximum foreign ownership ratio in the bank to 9.99 per cent, issuing 265 million shares to existing shareholders, issuing 35 million shares under the employee stock ownership plan (ESOP).

LienVietPostBank sets a profit target of VND3.2 trillion this year, up 32 per cent compared to 2020. As of May 31, LienVietPostBank’s pre-tax profit reached more than VND1.7 trillion, completing nearly 60 per cent of the yearly plan.

On the stock market, LPB shares have increased continuously in recent time, from about VND23,000 per share at the end of April, to over VND29,000 per share at present. The liquidity of shares also always remained at a high level, especially in the second quarter of 2021.