Page 19 - Thailand Post Annual Report 2024

Part 1
Overview of the Organization
Part 2
Business Trends
Part 3
Business Model
Part 4
Strategies and Resource Allocation
Part 5
Risk
Part 6
Corporate Governance
Part 7
Operating Results
Part 8
Other Information
Dividend Payout Policy
Dividend Payout Policy of Thailand Post Company Limited (THP)
THP has a policy of paying dividends in accordance with the provisions of its Articles of Association, Section 6 on Dividends and Reserves, Clause 28. Dividends can only be declared upon approval from the shareholders’ meeting, based on the net profit from the company’s financial statements after legal reserve deductions. THP is required to allocate at least one-twentieth of its profits as reserves until the reserve fund amounts to one-tenth of the company's total capital. Since 2008, THP has allocated 10% of its total capital as reserves. However, THP may consider suspending dividend payments if the Board of Directors approves such a decision, subject to further approval from the shareholders' meeting.
Dividend Payout Policy of Thailandpost Distribution Company Limited (THPD)
Subsidiaries in the group have a policy to pay dividends based on net profit after income tax deduction for each year, provided that the dividend payments must not affect the operations, financial position, liquidity, business expansion, other necessities, any other suitability in the future, and other factors related to the management of the subsidiaries as the subsidiaries’ board of directors deems reasonable or appropriate and must generate maximum benefits, with the approval of the shareholders' meeting.
According to the regulations of the subsidiaries, when the shareholders' meeting resolves to pay dividends and written notices are sent to all shareholders whose names appear in the shareholder’s register, if subsidiaries continue to incur accumulated losses, they will not be able to pay dividends. Additionally, subsidiaries must allocate at least one-twentieth of the profit as a reserve until the reserve amounts reach one-tenth of the company's capital.
THPD will approve dividend payment to shareholders by taking account of the annual operating results where there is sufficient net profit to pay dividend at the rate of 15% of retained earnings after deducting reserves, to the shareholders totaling 35,000,000 shares.
Dividend Payout Policy of FUZE POST Company Limited
Announcement of dividend payment can be made only by a resolution of the shareholders’ meeting, and payment of interim dividend can be announced by a resolution of the directors’ meeting only. Dividend payment can be made after a certain amount of money is set aside for investment in accordance with the company’s budget or business plan and appropriated to the reserve fund as required by applicable laws. The company has a policy to pay dividend at the rate of not less than 50% of its profit after deduction of taxes. The company may pay dividend in a manner that is different from this dividend payment policy if (a) approval is granted by resolution of the directors’ meeting with at least approval of one director nominated by each of the contract parties, or (b) approval is granted by resolution of the shareholders’ meeting with approval of all contract parties.
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