ACB shares hit 7-month high ahead of dividend record date

Shares of Ho Chi Minh City-headquartered Asia Commercial Joint Stock Bank (ACB) rose to their highest level in seven months as the lender prepares to finalize its shareholder list for a 2025 dividend payout and as the Au Lac shareholder group increases its stake in the bank.

Despite a broader market correction in recent weeks, ACB shares have outperformed, rising from VND22,800 to VND26,250 ($1) apiece, a gain of about 15% in less than a month. The stock is now trading at its highest level since mid-October 2025.

The lender's shares also staged a strong rally in 2025, climbing from VND19,900 to VND27,800 ($1.06) between May and August.

Investor sentiment has been supported by the bank's upcoming dividend distribution.

ACB said June 16 will be the record date for shareholders eligible to receive its 2025 dividend, with a total payout ratio of 20%.

The bank will distribute a cash dividend of 7%, equivalent to approximately VND3.57 trillion ($135.59 million), while issuing around 667 million new shares as a stock dividend at a ratio of 13%, meaning shareholders will receive 13 additional shares for every 100 shares held.

Following the issuance, ACB's charter capital is expected to increase from nearly VND51.37 trillion to over VND58.04 trillion ($2.2 billion).

ACB is regarded as one of Vietnam's most consistent dividend-paying banks. Between 2020 and 2024, it maintained a total annual dividend ratio of 25%, comprising 15% in shares and 10% in cash.

For 2025, however, the bank reduced the total dividend ratio to 20% after business performance fell short of its targets.

Dividend payments are typically implemented shortly after the annual general meeting, usually during May and June.

Separately, ACB shares have recently seen notable transactions involving the Au Lac shareholder group.

Ngo Thu Thuy, chairwoman of Au Lac Corporation (ALC), purchased an additional 6.3 million ACB shares on May 19, increasing her ownership stake from 1.27% to 1.39%. Earlier, on May 4, Nguyen Thien Huong Jenny, Thuy's daughter, acquired nearly 8.4 million ACB shares.

Meanwhile, ICON Corporation, a company affiliated with Thuy, sold its entire holding of nearly 8.4 million ACB shares on May 14, reducing its ownership stake to zero.

The Au Lac group regained major shareholder status at ACB in early April after Nguyen Thien Huong Jenny purchased an additional 931,700 shares, lifting the group's combined ownership to 5.01%.

According to the latest disclosure, the group currently holds 309 million ACB shares, equivalent to 6.02% of the bank's charter capital.

On the business front, ACB reported net interest income of VND6.99 trillion ($265.44 million) in the first quarter, up 9.9% from a year earlier, driven mainly by lending growth among large corporate and foreign-invested enterprise clients.

Non-interest income rose 23.1%, while operating expenses increased 5.9% and provisioning expenses rose 9.6%.

As a result, net profit climbed 17.4% year-on-year to VND4.32 trillion ($164 million) in the January-March period.