Siam Commercial Bank will pay an interim dividend of Bt1 per share, or 28.4 per cent of the first half net profit. It is payable on September 16.
The bank today reported an audited first half net profit of Bt11.69 billion, compared to Bt10.78 billion in the same period last year.
Executive Chairman Vichit Suraphongchai said "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."
The bank will also see the stronger capital fund. The Capital Adequacy Ratio will rise from 16.16 per cent to 17.06 per cent, of which tier 1 capital will rise from 12.03 per cent to 12.93 per cent.
SCB President Kannikar Chalitaporn said 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.
"Today SCB has the highest market capitalisation 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," she said.