The Board of Directors may recommend annual dividends subject to the approval of the Company’s shareholders at its annual general meetings. From time to time, the Board of Directors may declare interim dividends when the Board of Directors determines that the Company has sufficient net profits to do so. Such payment of interim dividends must be reported in the next shareholders meeting of the Company.
The Company has a policy to pay dividends at the rate of not less than 50% of the Company’s separate net profits after deducting corporate income tax and other reserve funds as required by law and as determined by the Company. The Board of Directors may also, for the interest of the shareholders, take into consideration other factors in paying dividends, such as the financial condition and results of operations of the Company, the Company’s reserve funds for future investments and repayment requirements of loans or working capital requirements and whether a dividend payment will have a material impact on the normal business operations of the Company, as deemed suitable and appropriate by the Board of Directors.