King’s Town crosses dividend hurdleTHRESHOLD PASSED: The Tainan-based lender expects to distribute cash dividends of at least NT$1.8 for the next five to 10 years, King’s Town chairman Terence Tai saidBy Kao Shih-ching / Staff reporterKing’s Town Bank (京城銀行) yesterday proposed to distribute a cash dividend of NT$1.8 per share based on last year’s earnings, becoming the nation’s third bank to surpass the regulatory limit of NT$1.5 per share for cash dividends. King’s Town Bank chairman Terence Tai attends an investors’ conference in Taipei yesterday. As the bank’s earnings per share hit a record NT$4.9 last year, the proposed cash dividend of NT$1.8 per share represents a payout ratio of 36.73 percent. “We hope our distribution remains stable and consistent for years,” King’s Town chairman Terence Tai (戴誠志) said. “We expect our cash dividend to stand at at least NT$1.8 for the next five to 10 years.

Source: Taipei Times February 23, 2021 15:56 UTC