Dividend Policy & Payment

  1. Dividend Policy of the Company

    In considering a dividend payment, the company will take into account the operating results and shareholders’ return in the long term, as well as the consolidated financial statements.

    The payment of dividends will be in the Articles of Association of the company, the key point being that an allocated dividend is to be divided equally by the number of shares and its payment must be approved at a shareholders’ meeting. The board of directors may occasionally pay interim dividends when the company has a large enough profit to warrant it, in which case it will report to the shareholders at the next meeting. Furthermore, a dividend payment must be in compliance with the Bank of Thailand’s notifications and governing laws.

  2. Regulations Related to Dividend Payments

    According to the Bank of Thailand’s Notification Re: Regulations on Accounting Principles for Financial Institutions, financial institutions should not pay dividends from unrealized gains or when there is no real cash inflow such as profits from mark-to-market valuations or from the reclassification of financial assets. Neither should they pay dividends from the profits arising from unrealized liquidation of assets which results in a higher profit or lower loss than they may otherwise generate, such as profits from the sale of foreclosed assets under condition that the financial institutions may repurchase them or obtain the rights to repurchase them in the future.

    Furthermore, since the core revenue of the company is the dividends it receives from the subsidiaries consists of Land and Houses Bank Public Company Limited, Land and Houses Securities Public Company Limited and Land and Houses Fund Management Company Limited, the bank must comply with the Bank of Thailand’s notification on the guideline on classification and provisions of financial institutions. Under the notification, a financial institution which has not yet written off damaged assets from its balance sheets or allocated in full allowances for potentially damaged and undamaged assets and obligations may not pay dividends or other forms of remuneration to its shareholders.

  3. Dividend Policy of the Subsidiary

    Land and Houses Bank Public Company Limited

    In considering a dividend payment, the company will take into account the operating results and shareholders’ return in the long term.

    The payment of dividends will be in the Articles of Association of the bank, the key point being that an allocated dividend is to be divided equally by the number of shares and its payment must be approved at a shareholders’ meeting. The Board of Directors may occasionally pay interim dividends when the company has a large enough profit to warrant it, in which case it will report to the shareholders at the next meeting. Furthermore, a dividend payment must be in compliance with the Bank of Thailand’s notifications and governing laws.

    Land and Houses Securities Public Company Limited

    In considering a dividend payment, the company will take into account the operating results and shareholders’ return in the long term, as well as the consolidated financial statements.

    The payment of dividends will be in the Articles of Association of the company, the key point being that an allocated dividend is to be divided equally by the number of shares and its payment must be approved at a shareholders’ meeting. The Board of Directors may occasionally pay interim dividends when the company has a large enough profit to warrant it, in which case it will report to the shareholders at the next meeting. Furthermore, a dividend payment must be in compliance under the governing laws.

    Land and Houses Fund Management Company Limited

    In considering a dividend payment, the company will take into account the operating results and shareholders’ return in long term.

    The payment of dividends will be in the Articles of Association of the company, the key point being that every time of the dividend payment, the company has to earmark as reserve at least one-twentieth of the net profit from the business of the company, until the reserve fund reaches one-tenth of the capital of the company or higher.