Dividend Policy & Payment

Chow Steel Industries Public Company Limited

The Company has a policy to pay dividend at not less than 40% of net profit after corporate income tax according to the Company’s separate financial statements and after statutory reserve as well as other reserves as determined by the Company. However, the actual dividend payment may differ from such dividend policy, subject to the Company’s operational performance, financial position, investment plan, necessity and other rationales in the future as deemed appropriate by the Board of Directors and/or the shareholders.

Since the Company was listed on the stock exchange, its dividend payment to its shareholders during December 2011-2018 has been as follows:

Operational Performance Separate Net Profit (Million Baht) Dividend per Share (Baht) Payment Date
1 Jan - 31 Dec 2011 193.00 0.10 3 May 2012
1 Jan - 30 Sep 2013 69.09 0.10 4 Dec 2013

Subsidiaries

Chow Energy Public Company Limited

Chow Energy Public Company Limited (CEPL) has a policy to pay its dividend and that of subsidiaries at not less than 40% of net profit after corporate income tax according to the separate financial statements and after legal reserve and other reserves as determined by laws and by CEPL. However, the actual dividend payment may differ from such dividend policy, subject to its operational performance, financial position, investment plan, necessity and other rationales in the future as deemed appropriate by CEPL’s Board of Directors and/or shareholders.

As CEPL’s business income comes from holding shares in other companies and has not conducted business significantly on its own (holding company), its core assets are investments in other companies. Its dividend payment capability mainly depends on operational performance and dividend payment of its subsidiaries and under the laws of the countries in which it has made investments. In addition, as the subsidiaries are located abroad, the dividend payment to CEPL will bear relevant costs such as withholding tax and possible foreign exchange profits or losses, etc.

Since CEPL’s establishment in December 2014, it has not paid dividend to its shareholders.

Vertex Logistics Services Co., Ltd.

Vertex Logistics Services Co., Ltd. (Vertex) has a policy to pay dividend at not less than 40% of net profit after corporate income tax according to its separate financial statements and after legal reserve and other reserves as determined by Vertex. However, the actual dividend payment may differ from such dividend policy, subject to its operational performance, financial position, investment plan, necessity and other rationales in the future as deemed appropriate by Vertex’s Board of Directors and/or shareholders.

Vertex’s dividend payment to its shareholders during 2011-2018 has been as follows:

Operational Performance Separate Net Profit (Million Baht) Dividend per Share (Baht) Payment Date
1 Jan - 30 Sep 2013 5.25 444.44 28 Mar 2014