Bangkok--7 Apr--SET
With 69% of listed companies reporting, the average dividend yield on the Thai bourse for 2008 as recommended by their respective boards will be 6.70%. The combined payout for firms on The Stock Exchange of Thailand (SET) and Market for Alternative Investment (mai), as recommended, will be 56.78%, or THB 209.66 billion (USD 5.89 billion) of total net profits. With dividends soon to be distributed, SET again reminded shareholders of the many no-cost benefits of e-Dividend services.
As of March 31, a total of 343 firms (304 from SET, and 39 from mai, excluding those Property Funds, Non-Compliance and Non-Performing groups) had announced their dividend proposals, which would total THB 209.66 billion (USD 5.89 billion)
At 8.28%, the average yield of a mai listing was somewhat higher than that of a SET-listed company’s 6.69%, SET President Patareeya Benjapolchai noted.
In SET, 180 companies had yields higher than the SET mean, including 93 firms with yields of 10% or more over the mean and 14 companies with yields of 20% or more over the mean. For mai’s listings, 17 firms had yields that were more than the average for mai companies as a whole.
Five industry groups had average yields higher than the combined SET and mai yield. These were: Industrials with an average of 11.88%, Property and Construction, with 8.26%; Technology, at 7.30%; Services at 7.26%, and Agro and Food Industry at 6.88%.
“Despite strong negative forces impacting securities trading, Thai listed firms are still an interesting investment alternative for investors, considering their strong fundamentals and high dividend payouts” noted Ms. Patareeya.
For this dividend payment season, investors using SET’s e-Dividend service will have more convenience than others, as they will receive the payments on the due date via money transfer. Thus, there will be no need for them to spend time waiting for checks to arrive in the mail, or traveling to their banks for cashing, and no need to worry about the checks being delayed or lost. Therefore, Ms. Patareeya strongly recommended that shareholders to use this free service.
Currently, almost 770,000 shareholders are using this convenient e-Dividend service. In 2009, SET plans to raise this figure by 150,000 users. In 2008, payments worth THB148.04 billion baht are paid through e-Dividend. This service also reduces problems of returned checks. At end of 2008, about 106,000 checks, with a total value of THB122.8 million baht, were returned.
To provide more convenient service to shareholders, SET is preparing its Direct Credit system, whereby dividends of higher than THB2.00 million baht per shareholder are deposited directly into shareholder accounts. This service will start in May 2009, and should reduce checks valued higher than THB2.00 million baht by at least 20%.
In the same time, SET, joining with six leading commercial banks (Bangkok Bank PCL, Kasikornbank PCL, Krungthai Bank PCL, Siam City Bank PCL, The Siam Commercial Bank PCL, and Standard Chartered Bank) promote e-dividend applications by giving souvenirs to new applicants. This promotion will last until June 30. To apply, investors can contact the above-mentioned banks, securities companies they patronize, counter service in the SET building, Bangkok, or call 02 229 2888 for more information.
Press office; please contact Public Relations Unit, the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Kanokwan Khemmalai Tel: 0-2229-2048 /
Panitee Chatpolarak Tel: 0-2229-2792