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Techcombank is expected to pay a cash dividend of more than 60%

 The Extraordinary General Meeting of Shareholders of Technological and Commercial Securities (TCBS) approved the 2020 profit distribution plan with a dividend rate of 60.08% in cash (one share is received at VND 6,008). The expected implementation time is in the fourth quarter of 2021 or the first quarter of 2022.

With a charter capital of 1,124 billion dong, TCBS plans to spend 675 billion dong on this dividend payment. Techcombank (HM:TCB) is the parent bank of TCBS when it owns nearly 89% of the shares. Thus, Techcombank is expected to receive about VND 600 billion in dividends. This dividend is much higher than 2019's rate of 22.6%. Similarly, the 2018 dividend is also 30% in cash.

According to the third quarter financial statements, TCBS achieved VND 1,392 billion in operating revenue, up 39% over the same period. Profit after tax reached VND 802 billion, up 16% over the same period last year. Accumulated 9 months, revenue reached 3,699 billion, up 49% over the same period last year. Profit after tax increased by 33.4% to 2,277 billion dong.

Violating regulations on information disclosure, 3 businesses were fined

From November 12-17, the State Securities Commission (SSC) issued a decision to impose administrative sanctions against three companies, including Hestia JSC (UPCoM: HSA), Dap Cau Glass Joint Stock Company (UPCoM: DSG) and JSC Song Da 207 (UPCoM: SDB) on violations related to information disclosure activities.

Specifically, HSA did not publish the 2020 audited financial statements.

As for DSG, the Company did not disclose on time the audited financial statements of 2018 and 2019, the revised semi-annual financial statements, the financial statements of the second quarter of 2020, the annual reports of 2018 and 2019, the resolution of the 2019 AGM and explanations. Exceptional opinion of the auditor on the 2019 financial statements.

Finally, SDB, the documents that the Company did not disclose include: Annual Report 2017 and 2018, Audited Financial Statements 2018, Resolution and Minutes of the 2019 Annual General Meeting of Shareholders. 

In addition, the Company also improperly announced the Resolution and Minutes of the 2018 Annual General Meeting of Shareholders, audited financial statements for 2014, 2015, 2017 and 2014 annual report.

For the above violations, the State Securities Commission decided to impose an administrative penalty of VND 85 million for HAS, VND 60 million for DSG and VND 100 million for SDB.

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