Bangkok--2 Apr--Bangkok Bank
Bangkok Bank postponement of the 27th Annual Ordinary Meeting of Shareholders on April 10, 2020 and approve payment of interim dividends by considering the operational results of 2019 at the rate of 5 baht per ordinary share.The Board of Directors will consider setting a new date for the Annual Ordinary Meeting of Shareholders when the situation is resolved and appropriate and will notify shareholders accordingly.
Bangkok Bank Corporate Secretary, Apichart Ramyarupa said the meeting of the Board of Directors (the “Board”) of BangkokBank Public Company Limited (the “Bank”) no.4/2020 held on April 1, 2020 passed the following resolutions. To postpone the 27th Annual Ordinary Meeting of Shareholders until the situation is resolved. This includes canceling the date and agenda of the meeting scheduled on April 10, 2020, as well as canceling the record date for determining shareholders with the right to attend the Annual Ordinary Meeting of Shareholders on March 12, 2020. In this regard, the Board of Directors will consider setting a new date for the Annual Ordinary Meeting of Shareholders when the situation is resolved and appropriate and will notify shareholders accordingly.
To approve payment of interim dividends by considering the operational results of 2019 in accordance with the financial statements ended December 31, 2019 at the rate of 5 baht per ordinary share, totaling 9,544,214,470 baht. The dividend was derived from retained earnings which were subject to corporate income tax of 20 percent and which, with the record date for determining shareholders with the right to receive the dividend payment of April 22, 2020, was the same schedule previously announced through the Stock Exchange of Thailand, and the dividend payment shall be made on April 30, 2020.
The Board of Directors’ approval of the interim dividend payment is to reduce the impact on shareholders' right to receive dividends from the indefinite postponement of the 27th Annual Ordinary Meeting of Shareholders. Combining the interim dividend payment of 5 baht per share in this period together with the interim dividend payment (paid on September 20, 2019) for the period of six months ended June 30, 2019 at the rate of 2 baht per share, the Bank has paid total dividends at the rate of 7 baht per share, representing 38.41 percent of net profit per share for 2019. Therefore, the Board of Directors will not propose to pay further dividends for 2019.
“In view of the government’s announcement of a nationwide state of emergency and the Bangkok Governor’s announcement of the “Order of Temporary Closure of Premises” to control the spread of Coronavirus Disease 2019 (“COVID-19”), as well as guidance on the need to refrain from organizing activities with large numbers of people, such as meetings, that pose a high risk of spreading the disease, therefore, the Board of Directors' meeting passed the following resolutions” Apichart said