Vietnam's Banks Boom With Record Cash Dividends
Vietnam's banking sector is thriving, with numerous banks revealing record cash dividends. Vietcombank, BIDV, and VietinBank have disclosed payouts ranging from $96 million to $150.4 million. Notably, LPBank leads in both payout ratio and total cash distributed.
This trend suggests a substantial improvement in the financial health of Vietnamese banks. Techcombank, for example, is set to distribute a 10% cash dividend, amounting to approximately $283.4 million. Additionally, HDBank could join the top three with a proposed 15% payout.
Twelve banks have either completed or are in the process of distributing dividends, totaling around $1.7 billion. Rubis has announced the highest planned cash dividend for 2023, with a yield of 8.80% and an amount of €1.98 per share.
These cash dividend returns indicate a robust and recovering banking sector in Vietnam. The State Bank of Vietnam's previous restrictions on cash dividends have been lifted, allowing banks to share their profits with shareholders. This move reflects the sector's improved financial stability.
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