Fubon Financial Holding Co (富邦金控) is to offer a dividend payout of NT$2 per share based on last year’s earnings per share (EPS) of NT$4.52, the company said in a regulatory filing on Thursday.
The proposed cash dividend represents a payout ratio of 44 percent.
Based on the stock’s closing price of NT$46.15 on the Taiwan Stock Exchange yesterday, the dividend yield was 4.33 percent, much higher than average time deposit rates in the local banking sector.
However, the company’s proposed cash dividend was lower than the NT$2.3 it issued in 2017, when its EPS were NT$5.19.
Fubon Financial made the dividend payout proposal at a board meeting on Thursday.
The plan still needs to be approved at the company’s annual general meeting on June 14.
Fubon Financial was the most profitable listed financial holding company in Taiwan last year.
So far, its proposed cash dividend has been the highest among the financial holding firms that have disclosed their dividend payout plans.
Mega Financial Holding Co’s (兆豐金控) was the second-highest at NT$1.7 per share, followed by First Financial Holding Co (第一金控) and CTBC Financial Holding Co (中信金控), each offering NT$1 per share.
In the first quarter, Fubon Financial remained the top earner among the 15 listed financial holding firms in Taiwan, posting NT$4.45 billion (US$144 million) in net profit, up 1 percent from a year earlier, with EPS of NT$1.22.
Among its competitors, Cathay Financial Holding Co (國泰金控) posted NT$1.03 in EPS, CTBC Financial posted NT$0.57, Mega Financial posted NT$0.56 and E.Sun Financial Holding Co (玉山金控) earned NT$0.48.
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