HDBank (HDB) 30% Stock Dividend: Nguyen Thi Phuong Thao to Receive 50.9M Shares

Overview

HDBank (ticker HDB, HOSE) has set 9 October 2026 as the ex-rights date for a combined 30% stock dividend and bonus share issuance. Existing shareholders will receive 30 new shares for every 100 held, a mechanism that lifts charter capital without a cash payout. Billionaire Nguyen Thi Phuong Thao, the bank’s largest individual shareholder, is expected to receive approximately 50.9 million additional HDB shares.

Key Facts

• Ex-rights date: 9 October 2026, for both the stock dividend and bonus shares.
• Issuance ratio: 25% stock dividend plus 5% bonus shares, a combined 30%.
• Shareholders receive 30 new shares for every 100 HDB shares held at the record date.
• Nguyen Thi Phuong Thao currently holds nearly 169.6 million HDB shares directly.
• She is expected to receive about 50.9 million new shares, lifting her direct holding to roughly 220.5 million units, or about 3.39% of HDBank.
• Charter capital is projected to rise from VND 50,053 billion to more than VND 65,069 billion after completion.
• HDBank reported H1 2026 pre-tax profit of VND 13,202 billion, up about 31% year-on-year, with total assets of roughly VND 1.045 quadrillion at end-June.

What Happened

HDBank (Ngân hàng TMCP Phát triển TP.HCM) announced a plan to issue shares to pay dividends at a 25% ratio and to issue bonus shares at a 5% ratio, according to the bank’s published plan. The record date for the combined 30% issuance was set so that 9 October 2026 is the ex-rights trading day. Shareholders on the register will receive 30 new shares for every 100 held.

For Nguyen Thi Phuong Thao, born in Hà Nội in 1970, the issuance translates into roughly 50.9 million additional HDB shares on her existing direct holding of nearly 169.6 million units. Her direct stake is expected to rise to about 220.5 million shares, equivalent to approximately 3.39% of HDBank. She also directly holds nearly 47.5 million VJC shares and indirectly owns more than 154.7 million VJC shares through Công ty TNHH Đầu tư Hướng Dương Sunny. Forbes’ real-time ranking after the 8 October 2026 session put her net worth at about USD 4.1 billion, returning her to second-richest in Vietnam behind Pham Nhat Vuong.

Market Context

HDB closed at VND 22,000 on 9 October 2026, up 2.83% on volume of 14,780,900 shares, the ex-rights session for the issuance. The stock trades on HOSE within the Vietnamese banking sector, which has broadly used stock dividends and bonus issues to rebuild capital buffers under State Bank of Vietnam capital-adequacy expectations. HDBank’s H1 2026 pre-tax profit growth of about 31% year-on-year and total assets of roughly VND 1.045 quadrillion place it among the faster-growing mid-tier listed banks.

Strategic Significance

The issuance is a capital-management decision rather than a cash return. By paying dividends in shares and adding a bonus issue, HDBank preserves retained earnings and cash while lifting charter capital from VND 50,053 billion to more than VND 65,069 billion. That larger capital base supports loan growth headroom and buffers against regulatory capital requirements without diluting via a cash call to external investors. For long-term holders, the key question is whether the enlarged equity base can be deployed at the same return on equity the bank has recently delivered; the 31% H1 profit growth suggests the balance sheet is still expanding faster than the dilution from new shares.

What to Watch

• Confirmation of the record date and the official listing of the new HDB shares on HOSE.
• Q3 2026 earnings release, to test whether profit growth near 31% year-on-year is sustained after the capital increase.
• Updated charter capital registration and any subsequent State Bank of Vietnam capital-adequacy disclosure.
• Changes in Nguyen Thi Phuong Thao’s direct and indirect ownership filings, including any shift from the stated 3.39%.
• HDB’s share price and foreign-ownership room after the new shares are listed, given the 9 October close of VND 22,000.