The Company’s Dividend Payment Policy
The Company sets the policy of dividend payment to the shareholders in the ratio of not below 30% of net profit from separate financial statements after deduction of tax and all types of reserves prescribed by laws and Articles of Association of the Company. Such dividend payment may be changed subject to necessity and other appropriateness as deemed appropriate by the Board of Directors. Annual dividend payment shall be approved by the Meeting of the Shareholders unless it is interim dividend payment. The Board of Directors may occasionally approve interim dividend payment when the Company deems that it is profitable to do so and shall report the said interim dividend payment to the Meeting of the Shareholders for acknowledgement in next meeting.
Subsidiaries’ Dividend Payment Policy
The dividend payment of the subsidiaries shall be subject to the approval consideration of each Subsidiary Board of Directors Meeting or the Shareholders Meeting (as the case may be) under requirement of concern on overall operations, liquidity, cash flow, financial position, investment plan of each subsidiary, as well as other factors as deemed appropriate by the Subsidiary Board of Directors Meeting or the Shareholders Meeting as deemed appropriate.
However, the subsidiary dividend payment (whether being located inside the country or abroad) shall be considered from net profit of separate financial statements after deduction with tax and legal reserves of that country. The appropriateness of the business conditions such as consideration from investment plan and business expansion plan of that subsidiary, etc. shall be considered in dividend payment.
Furthermore, for dividend payment of the subsidiary in accordance with corporate governance code, transparency, and accountability. The director who is appointed by the Company to hold the director office in that subsidiary has duty to report the Meeting of the Board of Directors when the subsidiary pays dividend.