Dividend Payment Policy

  1. Dividend payment policy of the Company

    The Company has a policy to pay dividends to shareholders at the rate of not less than 40% of the net profit from the consolidated financial statements after tax deduction, the allocation of all various funds required by laws and the Company in each year, and the obligations under the financial contract (if any). The dividend payment must not exceed the retained earnings from the separate financial statements of the Company.

    Dividend payment rate may be changed from the specified depending on the results of operations, cash flow, financial liquidity, financial status, investment plan, reserving funds to be working capital within the Company, reserving funds for future investment, reserving funds to repay loans, conditions and limitations as specified in the financial contract, economic conditions, including legal requirements and other necessities.

    However, the annual dividend payment must be approved in the shareholders' meeting, except the interim dividend payment which the Board of Directors may occasionally approve when it deems that the Company is profitable enough to do so and report to the shareholders' meeting at the next meeting.

  2. Dividend payment policy of subsidiaries

    The subsidiary company will pay dividends from the net profit according to the separate financial statements after tax deduction, the allocation of all various funds required by laws and the Company in each year, and the obligations under the financial contract (if any). However, the rate of dividends will be considered from the results of operations, cash flow, financial liquidity, financial status, investment plan, reserving funds to be working capital, reserving funds for future investment, reserving funds to repay loans, conditions and limitations as specified in the financial contract, economic conditions, including legal requirements and other necessities.

    The Board of Directors of the subsidiary company has the power to approve the payment of interim dividends and to report to the shareholders' meeting of subsidiary company at the next meeting.

    In consideration to approve annual dividends and interim dividends of subsidiaries, the subsidiary company must ask for approval in the meeting of the Board of Directors of the Company before proceeding unless the subsidiary company pays dividends in the total amount not less than the amount specified in the annual budget of each subsidiary or do it according to the dividend payment policy of the subsidiary company which has already been approved by the Board of Directors of the Company.