Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank - code STB) has just announced additional documents to serve the 2024 Annual General Meeting of Shareholders with many notable contents related to the charter capital increase plan.
Accordingly, the Board of Directors of Sacombank plans to submit to shareholders for approval a stock issuance plan to divide dividends to existing shareholders, and issue reward stocks to selected employees. The source of implementation is determined from the remaining accumulated united tax profit after profit distribution in 2024. According to information published by Sacombank, by the end of 2024, the bank's accumulated united after-tax profit reached VND 25,352 billion.
Regarding the dividend payment plan, the bank said that after being approved by the State Bank, the Board of Directors will develop a detailed plan, including the issuance ratio and implement a written consultation with shareholders before carrying out the procedures according to regulations. This is considered an important step towards realizing the dividend payment commitment that shareholders have been waiting for for nearly a decade.
Dividends are always one of the issues that Sacombank shareholders are particularly interested in at each congress. Since the merger of Phuong Nam Bank and the implementation of the restructuring project associated with bad debt settlement, Sacombank has not distributed dividends for nearly 10 years. At the 2021 Annual General Meeting of Shareholders, the board of directors each committed to completing the Restructuring Project in 2023 to be able to divide dividends again. However, this has not been implemented yet.
Previously, on February 25, 2025, Sacombank announced the final registration date for shareholders to attend the Annual General Meeting of Shareholders on March 10. The Congress is scheduled to take place at 7:30 a.m. on April 25 at the White Palace Convention Center, No. 194 Hoang Van Thu, Ward 9, Phu Nhuan District, Ho Chi Minh City.
