According to the laws, the Company must allocate at least 5 percent (%) of its annual net profit as legal reserve, less accumulated losses brought forward (if any) until the legal reserve reaches an amount of not less than 10 percent (%) of its registered capital. In this regard, the Company’s legal reserve had reached the amount required by laws. According to the dividend payment policy, the Company will normally pay dividends up to 50% of profits after corporate income taxes, unless the Board determines that the near future cash needs of the Company justify reserving part of the profit to cover those needs.
From the Company’s Financial Statements, the Company recorded the net profit of 867.94 Million Baht for the year 2017 (and had no accumulated loss) which has increased from the year 2016, the net profit of which was 360.64 million Baht. As such the Board of Directors is of the opinion that proposing the Shareholders’ meeting to approve the dividend payment for 2017 at 1.50 Baht per share be paid from the net profits of the Company. The dividends will be declared to the Shareholders totaling 226 million shares amounting to 339 million Baht. The dividend payment per share increases from last year but it is not in line with and less than the normal dividend payment policy since the Board of Directors considered that it is necessary for the Company to reserve part of the profit to cover the cash needs in the future.
Therefore, the 2018 Annual General Meeting of Shareholders on April 24, 2018 unanimously approved the dividend payment for 2017 at 1.50 Baht per share be paid from the net profit of the Company to the Shareholders totaling 226,000,000 shares amounting to 339,000,000 Baht. The record date to determine the list of shareholders entitled to receive dividends is on Thursday May 3, 2018. The dividend payment shall be made on Monday May 21, 2018.
There is no fixed dividend payment policy for subsidiaries. However subsidiaries will generally follow the policy of the Company.
Dividend Payment Record for the Year 2015-2019
Remark* Not applicable since it is paid from the retained earnings of the Company