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Six banks are planning to pay nearly 34 trillion VND in cash dividends, as the 2026 annual general meeting (AGM) season continues to see a large-scale wave of dividend distributions. Many banks have budgeted payouts ranging from a few thousand billion VND to nearly ten thousand billion VND.
VPBank is expected to propose a 5% cash dividend for 2025, with payment planned for Q2 or Q3 of 2026, depending on the board’s decision. At this rate, VPBank’s cash dividend payout would be about 4 trillion VND. The bank also plans to raise charter capital from 79.339 trillion VND to 100 trillion VND by issuing shares from owners’ equity, at a rate of over 26%.
LPBank plans to pay nearly 9 trillion VND in cash dividends for 2025, equivalent to a 30% payout. If approved, this would be the highest cash dividend rate in the bank’s history. LPBank currently has the largest cash dividend plan for this year.
MB expects to pay about 8.055 trillion VND in cash dividends, representing 7% (or 1,000 VND per share). MB is also planning to issue more than 1.2 billion shares to pay dividends in stock at a 15% rate, further increasing capital.
ACB shareholders have approved a total dividend payout of 20%, including nearly 3.6 trillion VND in cash dividends (7%) and more than 6.6 trillion VND in stock dividends (13%), for a total payout of over 10 trillion VND.
SHB is set to propose a dividend plan with a total payout of 16% (6% cash and 10% stock). Total funding for dividends is about 8.55 trillion VND, of which cash accounts for about 3.206 trillion VND.
VIB has approved a 2025 dividend plan of 9% in cash plus 9.5% in stock, totaling more than 3 trillion VND in payouts. VIB remains among the few banks maintaining a steady cash dividend policy in recent years.
Overall, six banks have announced cash dividend plans for 2026 totaling 33.8 trillion VND.
Beyond the banks listed above, Techcombank, VietinBank, Vietcombank, and BIDV have left open the possibility of paying cash dividends in 2026.
Banks’ improved profit performance is a key driver of cash dividend payments. In 2025, at least 12 banks paid cash dividends—Vietcombank, VietinBank, BIDV, MB, Techcombank, VPBank, ACB, SHB, TPBank, OCB, LPBank, and VIB—with an estimated total of 42.6 trillion VND. LPBank was the largest payer at 25%.
In 2024, nine banks paid cash dividends totaling around 30 trillion VND, up from 23 trillion VND in 2023.
The increase in both the number of banks and the size of payouts points to a clear trend, particularly among banks with stronger capital bases and profits. Bank executives attribute the return of the cash dividend wave to regulatory cycles that loosened earlier. Between 2019 and 2021, the State Bank of Vietnam restricted cash dividends to preserve capital for lowering lending rates and supporting the economy during the pandemic. Since 2023, authorities have eased restrictions on cash dividends for higher-rated banks, enabling well-capitalized banks to distribute to shareholders.
Cash dividends provide direct benefits to shareholders and can reflect management’s confidence in cash flow and capital adequacy. However, cash dividend income is subject to personal income tax, and stock prices typically adjust downward by roughly the dividend amount on the ex-dividend date.
Analysts expect that if business conditions remain favorable and profits stay positive, the cash dividend wave is likely to continue in coming years. The magnitude, however, will depend on bad debt, system liquidity, and capital-raise requirements across the banking sector.
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