The Board of Fubon Financial Holdings resolved to propose cash dividend of NT$2.0 dollars per common share on May 2, 2019. The cash dividend proposal for common stocks implies payout ratio of 44%, and dividend yield of 4.4% based on the closing price on April 30, 2019. The payout ratio is consistent with Fubon's policy of considering business growth prospects and shareholders expectation. The board resolution is subject to the approval of AGM, which will be held on June 14, 2019.
It is ambiguous under current Articles of Incorporation whether preferred share dividends can be distributed out of cumulative un-appropriated earnings. Therefore, the preferred share dividends are proposed nil for the time being. An amendment of Article of Incorporation is proposed and resolved in the same Board meeting. Subject to the amendment resolved in the AGM, the Company plan to convene an EGM after the AGM. The Company would propose in the EGM regarding dividend payment of preferred share A with the same amount as last year, and the amount of dividend payment of preferred share B based on issuance period in 2018. The amount of preferred share dividends would be in line with the issuance terms.
The Company is committed to a sustainable dividend track record to both common share and preferred shareholders. We expect a stable source of funding would pave the way of long-term growth of the company.
For more information, please contact IR@fubon.com
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Fubon Financial Holdings Co. Ltd. published this content on 03 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 May 2019 09:12:07 UTC
Fubon Financial Holding Co Ltd is a Taiwan-based financial holding company principally engaged in the sale of insurances and provision of related services. The Company mainly operates through five business segments. The Banking Business segment is mainly engaged in the banking and related businesses. The Property and Casualty Insurance Business segment is mainly engaged in the provision of various insurances. The Life Insurance Business segment is mainly engaged in the provision of life insurances. The Securities Business segment is engaged in the trading of securities and related products. The Others segment is engaged in the financial holding, venture capital, asset management and sports lottery businesses.