TMBThanachart will seek shareholders’ approval for its second dividend payment at 0.055 baht per share. In total, the dividend paid in 2023 is 0.105 baht per share, a 44% increase from 2022 and equivalent to a 55% dividend payout ratio, recording one of the highest in the banking industry.

Bangkok, 20 February 2024 - On 20 February 2024, TMBThanachart Bank Public Company Limited or TMBThanachart notified the Stock Exchange of Thailand that its Board of Director’s Meeting has passed a resolution to further propose the second dividend payment at 0.055 baht per share from 2023 operating results to the Annual General Meeting of Shareholders on 9 April 2024 for approval. The ex-dividend (XD) date is 17 April 2024, and the payment date (cash dividend) is 8 May 2024.

Mr. Piti Tantakasem, Chief Executive Officer, mentioned “Thanks to the operating results that have been achieved as targeted and the improvement in financial positions including profitability, risk absorption capability, liquidity position, and high level of capital base, TTB has been able to continuously enhance values for the organization and shareholders since the merger.

The value creation can be reflected in many aspects such as the improvements in both share price movement and the return on equity or ROE. The most prominent aspect is the uplift in dividend policy. Since 2022, TTB has adjusted the dividend payment from once to twice a year. Moreover, the dividend payout ratio has been raised from the level of 30%-35% during pre-merger periods to 50% in 2022 and 55% in 2023, respectively. The payout can be considered one of the highest in the banking industry.

For 2023 financial operation period, the Bank already paid an interim dividend at 0.050 baht per share in October 2023 and is going to seek an approval for the second payment at 0.055 baht per share. Overall, it would be a total dividend at 0.105 baht per share paid in 2023 or a total of 10,196 million baht in value, an increase of 44% from 2022, or equivalent to a dividend yield of approximately 5.7%-5.8% per year, given the current share price of around 1.80-1.85 baht per share.”

Mr. Piti Tantakasem concluded “The improvements in both operating results and dividend payments reflect our commitment to deliver returns to shareholders. We will continue to focus on prudent business direction to create sustainable growth, along with efficient capital management to ensure the Bank’s readiness for future business expansion while still maintaining a high level of dividend payments in the long run.”