Taipei--O-Bank Co., Ltd. (stock symbol: 2897.TW) on the morning of June 16 held its 2023 regular Shareholders Meeting, at which shareholders acknowledged the Business Report and Financial Statements for 2022, approved a cash dividend of NT$0.425 per preferred share and NT$0.38 per common share, and elected the members of O-Bank's 9th Board of Directors.
Today's O-Bank Shareholders Meeting passed a resolution for O-Bank's 2022 earnings distribution proposal. Net profit after tax in the standalone financial report was NT$5,034,470,939, up 173% from the previous year. Starting with this figure and adding in undistributed earnings adjustment items for the year 2022, subtracting the allocation of legal reserve and a statutorily required provision to special capital reserves, and adding in unappropriated retained earnings of NT$644,821,412 from prior years yields distributable earnings of NT$1,459,651,817. The proposal was to pay out a cash dividend of NT$0.425 per class A preferred share and NT$0.38 per common share. As of end-March 2023, O-Bank had 299,014,000 preferred shares and 2,731,470,301 common shares issued and outstanding. The result was preferred share cash dividends of NT$127,080,950 and common share cash dividends of NT$1,037,958,714.
In addition, the O-Bank Shareholders Meeting elected 12 members to the 9th Board of Directors, including four independent directors. These 12 members are: Tina Y. Lo; Kenneth C.M. Lo and Chih-Ming Chien (representing Ming Shan Investment Co.); Bill K.C. Lin (representing Tai Hsuan Investment Co.); Mark J.C. Lee; George C.J. Cheng (representing Abag Investment Holdings Co.), Alex J.J. Chen (representing Tai Ya Investment Co.); Grace W.S. Tang (representing Yi Chang Investment Co.); and independent directors Fu-Hsiung Hu, Hank H.K. Lin, Tina W.N. Chiang, and Jennifer C.F. Wang.
Among the successful candidates for the 9th Board of Directors, there are 6 natural-person directors, each of whom possesses deep financial and professional experience: Tina Y. Lo currently serves as the Chairperson of O-Bank; director Mark J.C. Lee is the President of Heng Tong Machinery Co.; independent director Fu-Hsiung Hu is a former Chairman of Taiwan Cooperative Securities and a former Chairman of the Joint Credit Information Center; independent director Hank H.K. Lin is a former Managing Partner of Ernst & Young Taiwan; independent director Tina W.N. Chiang is a former President of Bank SinoPac, former Chief Officer of Digital Technology & Operations at SinoPac Holdings, a former Senior Vice President of MasterCard and Country Manager of MasterCard Taiwan; and independent director Jennifer C.F. Wang is currently a partner at Chen & Lin Attorneys-at-Law. In the future, relying on the leadership and the diverse professional abilities of these directors, O-Bank will continue to pursue excellence and achieve at high level.