Bangkok--23 Aug--Siam Commercial Bank
Siam Commercial Bank pcl announced today that it will pay an interim dividend of Baht 1 per share. The pay-out of an interim dividend reflects the Bank’s confidence in its projected profitability for 2010 and its strong capital base.
Commenting on the payout of the interim dividend, the Chairman of the Bank’s Executive Committee, Dr. Vichit Suraphongchai noted that “over the past few years SCB has consistently demonstrated the market leading profitability of its franchise. The resumption of payout of interim dividends mirrors this robust profitability and is anchored on exceptional capital strength”. He added that “the Bank remains strongly focused on delivering optimized shareholder value in terms of both capital growth and dividend yield”.
SCB will pay an interim dividend of Baht 1 per share, a payout ratio of 28.4% on the first half 2010 net profit. The date for recording the rights of the shareholder to this interim dividend has been set at 6 September 2010 and the shareholders register will close on 7 September 2010.The date for payment of the interim dividend has been set at 16 September 2010.
The Bank’s already high capital base is set to increase further following the payout of interim dividends, reflecting the Bank’s allocation of the remainder of its first-half profit to its capital funds. The Capital Adequacy Ratio will rise from 16.16% to 17.06% and Tier 1 Capital will rise from 12.03% to 12.93%.
Khun Kannikar Chalitaporn, the SCB president, notes that “After the Asian economic crisis in 1997, SCB was the first Thai financial institution to resume dividend payment in 2003 and is committed to maintaining an attractive payout ratio. Also, today SCB has the highest market capitalization among the Thai financial institutions. The Bank plans to maintain this high total return to shareholders as a key element in its vision to be the Bank of Choice for its shareholders, customers, employees and the community”.
Siam Commercial Bank PCL is a leading universal bank in Thailand. It was established by Royal Charter in 1906 as the first Thai Bank and, as at June 30, 2010, had the highest market capitalization among Thai Financial Institutions (Baht 276 billion). It has the largest branch (999), exchange booth (112), and ATM (7,467) network in the country, attesting to its dominant position in the retail financial services marketplace. It has a diverse range of Corporate, SME, Private, and Retail customers nationwide, and has an asset size of Baht 1,266 Billion. Further information is available on the Bank's web site at www.scb.co.th.
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