Tata Steel Thailand Public : Notification of revision of Dividend Payment Policy

Date/Time

20 Jan 2022 18:05:14

Headline

Notification of revision of Dividend Payment Policy

Symbol

TSTH

Source

TSTH

Full Detailed News

                TSTH 008/2022 RM/SJ/IA                                 January 20, 2022

To        President
        The Stock Exchange of Thailand

Subject      Notification of revision of Dividend Payment Policy

Tata Steel (Thailand) Public Company Limited ("the Company") would like to 
inform that The Board of Directors Meeting No.114 (5/2021-2022) on January 20,
2022, resolved to approve the revision in Dividend payment policy as follows:

Current Dividend Payment Policy:
    The Company has the policy for the dividend payment to the shareholders at the 
rate of not exceeding 40% of net profit after tax (after deduction of legal
reserve) of consolidated financial statements by considering the relevant
factors which shall not cause significant effects to the Company's business
operation. Such factors are the operational performance, financial status, the
Company's solvency, the business expansion, the obligations to complete the
debts service according to loan agreements including any other factors relevant
to the business operation of the Company. The consideration shall be consistent
with the concept of maximizing long-term benefit for the shareholders but it
shall also be subject to the approval from the Board of Directors and/or the
shareholders' meeting.
    Dividend Policy of subsidiary takes into account its operating results; that 
is, a dividend will be declared when the subsidiary is able to general an
adequate amount of the net profit and no retained deficits are reported. In
addition, the subsidiary refers to major factors mentioned above in
consideration of a dividend payment.

Revised Dividend Payment Policy:
    The Company has a policy for the dividend payment to the shareholders from net 
profit after tax and after deduction of legal reserve by considering the
relevant factors which shall not cause significant effects to the Company's
business operation. Such factors are such as the operational performance,
financial status, Company's solvency, business expansion, obligations to
complete the debts service according to the Company's loan agreements including
any other factors relevant to the business operation of the Company. The
consideration shall be consistent with the concept of maximizing long-term
benefit for the shareholders.
Dividend Policy of the subsidiary takes into account its operating results; that
is, a dividend will be declared when the subsidiary is able to generate
adequate amount of net profit and no retained deficits are reported. In
addition, the subsidiary refers the factors mentioned above in consideration of
a dividend payment.
    

Please be informed accordingly.         
Sincerely yours,
Tata Steel (Thailand) Public Company Limited

Mr. Rajiv Mangal
President and CEO

Corporate Secretary Office
Tel no.    02-937-1000 ext. 3210, 3156
Fax no.    02-937-1224
______________________________________________________________________
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