For sustainable growth, the Company has set divided policy for the 2015 onwards to be not less than 35 percent of net income after tax of the separate financial statements. However, in case the Company still suffers accumulated loss, it will be not able to pay dividend as specified in its Articles of Association. In addition, subject to the Company’s regulation on rights and duties of the debenture issuer, the Company can pay dividend in the amount of not more than 60% of the net profit of such particular year. Nevertheless, the Board of Directors may pay interim dividend to shareholders from time to time if deemed appropriate that the Company’s profit is sufficient to do so, and report to the subsequent meeting of shareholders for acknowledgement.
This year 2018, SPALI recorded a net income of 5,514 Million Baht. The Company’s Board of Directors considers to propose to shareholders’ meeting to pay dividend form the operating performance of 2018 to shareholders at 1 baht per share or 39% of net profit amounting to 2,143 Million Baht. This is consistent with the dividend policy of the Company. However, the board of director’s 9/2018 resolution on August 14, 2018, had resolved to approve interim dividend payment 0.40 baht per share, the Company still has to pay the dividend for the second-half-year operations of 2018 at the rate of 0.60 baht per share. The dividend payment date is May 8, 2019.
Nevertheless, the Company has set up condition in maintaining the conditions for making dividend payment according to the Loan Agreement, that is, the Company shall not pay dividend, be it interim or annual dividend, or distribute any benefit or remuneration to any or all shareholders by any means or method unless all of the following events take place In a complete manner:
(1) the Company has not breached the Loan Agreement and
(2) the Company has presented the evidence for consideration by the creditors and is of the opinion that in the year in which any dividend and/or benefit and/or remuneration shall be paid, the Company has provided reserve in a sufficient amount to fully pay all the interest and principal due in the year in which any dividend and/or benefit and/or remuneration shall be paid.
For the subsidiaries, there is no certain policy regarding dividend payment, it depends on the operational result of each company each year.
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