Bangkok--Feb 27--Siam Commercial Bank
On 27 February 2006, the Board of Directors of Siam Commercial Bank Public Company Limited (SCB) have agreed that, at the shareholders meeting scheduled for 4 April 2006, it will seek the approval from shareholders to pay a total dividend of 3 baht per share. This dividend, which is the highest to date, will comprise: (a) the dividend from SCB’s performance in 2005 at 2 baht per share and (b) a special dividend to celebrate the bank’s 100th anniversary, which falls on 30 January 2007, at 1 baht per share. The deadline for the registration of shareholders eligible for dividend pay out will be 18 April 2006 and the dividend pay out date is 28 April 2006.
Dr. Chirayu Isarangkun Na Ayuthaya, SCB Chairman of the Board of Directors, announced that it is SCB’s policy to provide the best possible dividends to its shareholders, bearing in mind their long-term interest. "It has been the bank’s policy to provide a dividend pay out of around 30-40% of our annual net profits to our shareholders. In 2003 and 2004, we paid a dividend of 36%. For this year, we intend to do the same and we plan to seek the approval from our shareholders accordingly. The proposed pay out will be 3 baht per share. The first part of the dividend will reflect the bank’s stellar performance in 2005, which is 2 baht per share. And, the second part will be a special dividend to celebrate the bank’s 100th anniversary which falls on 30 January 2007, which is 1 baht per share. Thus, together, the total dividend will be 3 baht per share. Our highest dividend pay out to date."
“In addition to rewarding our shareholders with such dividends, we also feel that it is only appropriate to reward our employees for their continuing hard work and dedication, as we celebrate our 100th anniversary. For the past several years, our employees who now total just below 14,000 in almost 700 branches across the country, have worked hard to ensure that SCB becomes the Premier Universal Bank in Thailand. As a result, for the past 3 consecutive years, SCB has achieved record-breaking profits. With this thought in mind, the Board of Directors has decided to provide an additional 1 month bonus to all employees. This additional bonus is a separate part from the normal variable bonus or performance bonus which all employees are entitled to on an annual basis," Dr. Chirayu added.
The Siam Commercial Bank Public Company Limited (SCB) is the first Thai-owned commercial bank in Thailand. It was established by the royal permission of HM King Chulalongkorn, (Rama V) on 30 January 1906. In 2005, SCB has a net profit of 18,883 million baht or 5.60 baht per share, with an earnings per share of 20.6%
For more information please contact:
Wattanee Somchit
The Siam Commercial Bank Public Company Limited
Tel : (02) 544-4501-2 , Fax : (02) 937-7454
email : [email protected]
www.scb.co.th End.