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Fubon Financial board approves record dividend

Fubon Financial board approves record dividend SUBSIDIARY ACTION: Fubon Life allocated its profit to fund its parent’s cash dividend distribution, although the Financial Supervisory Commission must approve By Kao Shih-ching / Staff reporter Fubon Financial Holding Co’s (富邦金控) board of directors on Thursday approved a proposal to distribute a record cash dividend of NT$3 per share, topping proposals by local peers, data showed. The previous time Fubon paid at least a NT$3 cash dividend was in 2015. This year’s payout ratio would be about 35 percent, based on the company’s earnings per share of NT$8.54 last year, with a dividend yield of 4.67 percent given its share price of NT$64.2 when markets closed on Thursday.

Financial conglomerates profit on stock investments

The nation’s major financial conglomerates with life insurance subsidiaries have reported higher net profits for the first quarter of this year on the back of investment returns, buoyed by the booming domestic stock market, companies’ data showed. Fubon Financial Holding Co (富邦金控), the nation’s second-largest financial holding firm by assets, yesterday reported net profit of NT$11.49 billion (US$403.7 million) for last month, up 42 percent year-on-year, while its net profit totaled NT$50 billion in the first quarter, up 118 percent year-on-year, it said in a statement. Earnings per share were NT$4.89 in the first quarter, ranking the company first among the nation’s

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