TPB, HDB Set October Dividend Record Dates; TCB Plans 50% Stock Payout

Overview

TPBank (HOSE: TPB) and HDBank (HOSE: HDB) will finalize shareholder lists for their 2025 dividend payments on 5 October and 12 October 2026 respectively, according to company announcements reported by An ninh tiền tệ. TPB is paying both cash and stock, HDB is paying stock only, and Techcombank (HOSE: TCB) is separately progressing a 50% stock dividend without a confirmed record date. The three payouts together represent one of the largest concentrated capital-return and capital-strengthening waves in the Vietnamese banking sector this year.

Key Facts

• TPB record date: 5 October 2026; cash dividend of 5% (VND 500 per share), with payment scheduled for 14 October 2026.
• TPB cash payout totals more than VND 1,387 billion on over 2,774 billion shares outstanding.
• TPB will issue up to 416.1 million shares for a 15% stock dividend, worth over VND 4,161 billion at par value, funded from audited 2025 undistributed profit.
• TPB charter capital is expected to rise from VND 27,740 billion to approximately VND 31,901 billion.
• HDB record date: 12 October 2026, for a combined 30% stock payout: 25% stock dividend from retained earnings plus a 5% bonus issue from the capital reserve fund.
• HDB charter capital is expected to increase from VND 50,053 billion to more than VND 65,069 billion.
• TCB plans a 50% stock dividend, issuing more than 3.5 billion shares with par value above VND 35,431 billion; no record date has been announced.

What Happened

TPBank’s board confirmed the shareholder list date of 5 October 2026 to implement its 2025 profit distribution plan. Shareholders will receive VND 500 per share in cash, with payment expected on 14 October 2026, alongside a 15% stock dividend under which holders of 100 shares receive 15 new shares. The stock issuance is capped at 416.1 million shares and is funded from audited 2025 accumulated undistributed profit. If completed, TPBank’s charter capital would increase by more than VND 4,161 billion.

HDBank has set 12 October 2026 as the final registration date for its 2025 dividend and bonus shares, at a combined ratio of 30%. The plan approved by shareholders comprises a 25% stock dividend from undistributed profit and a 5% bonus issue from the reserve fund for charter capital supplementation. Holders of 100 HDB shares on the record date receive 30 new shares in total. HDBank said the additional capital will fund medium- and long-term lending and working capital. Separately, Techcombank is proceeding with a 50% stock dividend but has not disclosed a record date.

Market Context

All three banks trade on HOSE. TPB closed at VND 11,900 on 3 October 2026, HDB at VND 28,450 and TCB at VND 32,250. TPB’s cash component implies a yield of roughly 5% against that close, a meaningful payout for a mid-cap bank whose shares have traded at a discount to larger peers. The simultaneous stock issuance across TPB, HDB and TCB reflects a sector-wide push to raise charter capital ahead of Basel III and State Bank of Vietnam capital-adequacy expectations, rather than a signal of deteriorating earnings.

Strategic Significance

For long-term holders, the key distinction is between cash returned and capital retained. TPB is the only one of the three returning cash, which supports near-term income but leaves its capital base smaller relative to HDB and TCB after their larger stock issuances. HDB’s move to VND 65,069 billion in charter capital and TCB’s planned VND 35,431 billion issuance both expand the lending headroom that constrains credit growth at Vietnamese banks under SBV caps. Investors should read the stock dividends as balance-sheet capacity building rather than as a change in earnings power; per-share metrics will dilute mechanically, and the strategic payoff depends on whether the banks can deploy the new capital at existing net interest margins.

What to Watch

• TPB cash dividend payment on 14 October 2026 and confirmation that the 416.1 million new shares are listed.
• HDB’s record date of 12 October 2026 and the subsequent listing timetable for the 30% issuance.
• TCB’s announcement of a record date for its 50% stock dividend, which is still outstanding.
• Q3 2026 earnings releases from all three banks, particularly net interest margin and credit growth against the enlarged capital base.
• Any SBV guidance on charter capital requirements or credit-growth quotas that would change the value of holding excess capital.