1. Dividend Payment Policy of the Company
The Company will consider paying dividend according to provision of law, including the Public Limited Company Act, B.E. 2535 (1992) (As amended), which stipulates that a public limited company may pay dividends only based on its net profit as derived from its separate financial statements and may not pay dividends if it has negative retained earnings.
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. The said 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.
In this regard, annual dividend payments must be approved by the shareholders’ meeting. The Board of Directors may also, by resolution, approve to pay interim dividends to the shareholders if they deem that the Company has sufficient profits to do so. Such dividends distribution must be reported shareholders at the next shareholders’ meeting accordingly. The shareholders / Board of Directors of the Company have approved dividends as follows:
2023
| Approval date | Payment schedule | Dividend per share (Baht) | No. of shares (million shares) | Amount (THB million) | |
|---|---|---|---|---|---|
| Annual dividend | 25 Apr 2024 | May 2024 | 0.55 | 6,031 | 3,317 |
2022
| Approval date | Payment schedule | Dividend per share (Baht) | No. of shares (million shares) | Amount (THB million) | |
|---|---|---|---|---|---|
| Annual dividend | 28 Apr 2023 | May 2023 | 0.48 | 6,031 | 2,895 |
2021
| Approval date | Payment schedule | Dividend per share (Baht) | No. of shares (million shares) | Amount (THB million) | |
|---|---|---|---|---|---|
| Annual dividend | 29 Apr 2022 | May 2022 | 0.30 | 6,031 | 1,809 |
2020
| Approval date | Payment schedule | Dividend per share (Baht) | No. of shares (million shares) | Amount (THB million) | |
|---|---|---|---|---|---|
| Annual dividend | 23 Apr 2021 | May 2021 | 0.40 | 6,031 | 2,412 |
2019
| Approval date | Payment schedule | Dividend per share (Baht) | No. of shares (million shares) | Amount (THB million) | |
|---|---|---|---|---|---|
| Interim dividend | 10 Dec 2019 | Dec 2019 | 0.90 | 4,700 | 4,230 |
| Interim dividend | 14 Nov 2019 | Dec 2019 | 5.96 | 4,700 | 28,012 |
| Annual dividend | 30 Apr 2019 | May 2019 | 8.50 | 470 | 3,995 |
| Total | 36,237 |
2018
| Approval date | Payment schedule | Dividend per share (Baht) | No. of shares (million shares) | Amount (THB million) | |
|---|---|---|---|---|---|
| Interim dividend | 1 Mar 2018 | Mar 2018 | 11.00 | 211 | 2,326 |
2. Dividend Payment Policy of Subsidiaries
The Board of Directors of the subsidiary company will consider to pay annual dividend and propose to its shareholders’ meeting for approval each year. 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). In this regard, 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 or joint venture agreements by which the company is bound, 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 report to the next shareholders’ meeting of subsidiary company accordingly.
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. This is aligned with the policy on investment and supervision of subsidiaries and associate companies which operate the core business of the Company.