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On
the 12th, the Taiwan Stock Exchange issued the "2024 Corporate Governance
Assessment". O-Bank was awarded the "Top 5% of Listed Companies"
and "Top 10% of Financial Insurance Companies" for its outstanding
performance in corporate governance. (On the left is Sherman Lin, Chairman of
the Taiwan Stock Exchange, and on the right is Tina Y. Lo, Chairman of O-Bank.)
Taipei,
O-Bank Co., Ltd. (stock symbol: 2897.TW) held its 2025 Annual Shareholders
Meeting on June 13, at which shareholders acknowledged the Business Report and
Financial Statements for 2024, and approved a cash dividend of NT$0.5 per
common share.
O-Bank’s 2024 earnings per share (EPS) was NT$1.0, and net
profit after tax in the standalone financial report was NT$2,856,199,365. Including
undistributed earnings at the beginning of the period of NT$1,890,453,479, as
well as adjustment for dividend distribution discrepancy arising from
conversion of Series A preferred shares for 2023 earnings and undistributed
earnings adjustment items, subtracting legal reserve appropriation of NT$842,611,231,
and adding reversal of special reserves pursuant to Article 41 of the
Securities and Exchange Act as well as reversal of special reserves for training
expenses for fintech development, total earnings available for distribution was
NT$4,262,656,898. The original annual rate of O-Bank’s Series A preferred
shares was 4.25%, and was reset to 5.07275% effective at end-May 2024. All Series
A preferred shares were fully redeemed on October 17, 2024. Based on their
period in circulation, total cash dividend for Series A preferred shares was
NT$83,824,690. The annual rate for O-Bank’s Series B preferred shares is 4.5%,
and based on shares in circulation and time in circulation as of end-March
2025, total cash dividend for Series B preferred shares was NT$36,147,541. O-Bank’s
dividend per common share is NT$0.5, and based on common shares in circulation
of 2,782,418,878 at end-March 2025, the total cash dividend for common shares
was NT$1,391,209,439. According to the dividend distribution above, total
undistributed earnings at the end of the period was NT$2,751,475,228. In the
event that the number of outstanding common shares on the dividend distribution
record date is impacted by other factors, the Shareholders Meeting has
authorized the board of directors to adjust the cash dividend per common share
accordingly, while keeping the total cash dividend payout for common shares
unchanged.
In addition to continuously creating greater value for
shareholders, O-Bank also steadily strengthens its corporate governance. O-Bank
was recognized by the Taiwan Stock Exchange Corporation 2024 Corporate
Governance Evaluation with a top 5% ranking among listed companies, and a top
10% ranking among financial companies, demonstrating its commitment to
corporate governance and sustainable management for all shareholders.