Dividend policy of B.Grimm Power
B.Grimm Power’s dividend policy is to pay shareholders at least 40% of normalised net profit (net profit excluding unrealised gain / loss on exchange rate and non-recurring income / expense) based on its consolidated financial statements after tax and statutory reserves deduction and after obligations under loan agreements. This rate, however, is subject to change depending on operating performances, cashflow, investment requirements, conditions and restrictions in loan agreements and other future considerations. Once resolved and approved by the Board of Directors, the payment of dividend must be submitted to a shareholders’ meeting for approval unless it is an interim dividend payment where, in such a case, the Board of Directors may approve the payment and subsequently report it at the next shareholders’ meeting.
The Board of Directors’ Meeting No. 2/2020 held on 24 February 2020 resolved to propose to the 2020 Annual General Meeting of Shareholders (AGM) on 23 April 2020 a dividend payment for B.Grimm Power’s 2019 performance at the rate of Baht 0.37* per share, or approximately 45.0% of the 2019 normalised net profit.
*Divided into an interim dividend payment for the first half of 2019 performance at the rate of Baht 0.15 per share paid on 10 September 2019 and the payment for performance during the second half of 2019 at Baht 0.22 per share, which will be submitted to the 2020 AGM for approval.
Dividend Policy of Subsidiaries and Joint Ventures
The dividend policy of B.Grimm Power’s subsidiaries and joint ventures will reflect what their Board of Directors considers and approves before seeking approval from their shareholders’ meeting each year. Dividend will be paid from net profit stated in the financial statements of a particular subsidiary and joint venture after tax and statutory reserves deduction and after obligations under loan agreements. The payment rate will be based upon operating performances, cashflow, investment requirements, conditions and restrictions stipulated in loan agreements and other reasons deemed appropriate by subsidiaries and joint ventures. Meanwhile, the Board of Directors of B.Grimm Power’s subsidiaries and joint ventures may approve an interim dividend payment, which however will be subsequently reported to shareholders at the next shareholders’ meeting.
|Board Date||X-Date||Payment Date||Dividend Type||Dividend (Per Share)||Operation Period|
|01 Apr 2020||12 Mar 2020||30 Apr 2020||Cash Dividend||0.22||01 Jul 2019 - 31 Dec 2019|
|13 Aug 2019||27 Aug 2019||10 Sep 2019||Cash Dividend||0.15||01 Jan 2019 - 30 June 2019|
|27 Feb 2019||13 Mar 2019||10 May 2019||Cash Dividend||0.17||01 July 2018 - 31 Dec 2018||10 Aug 2018||24 Aug 2018||7 Sep 2018||Cash Dividend||0.15||01 Jan 2018 - 30 June 2018|
|28 Feb 2018||20 Mar 2018||11 May 2018||Cash Dividend||0.30||01 Jan 2017 - 31 Dec 2017|