Li Changgeng, general manager of Cathay Gold, said that as long as the stock and bond markets do not deteriorate and the unrealized losses improve, they will try their best to distribute dividends.

(Provided by Cathay Gold)

[Reporter Wu Xintian/Taipei Report] Cathay Financial Holdings held its third-quarter legal briefing today, and the outside world is concerned about whether it will be able to pay dividends next year.

Li Changgeng, general manager of Cathay Gold, said that as long as the stock and bond markets do not deteriorate and the unrealized losses improve, they will try their best to distribute dividends.

Cathay Gold’s after-tax net profit in the first three quarters was 54.5 billion yuan, an annual decrease of 55%, and its earnings per share were 3.83 yuan.

Cathay Gold said that after the dividend payment this year, the undistributed surplus in the first three quarters exceeded 240 billion yuan.

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Due to the turmoil in the international financial market, Cathay Life Insurance had an unrealized loss of 490.5 billion yuan in the first three quarters. After the reclassification of financial assets on October 1, it increased by about 242.6 billion yuan, and the remaining unrealized loss was 247.9 billion yuan.

For the 242.6 billion yuan increased after the reclassification, both Cathay Financial and China Life have to withdraw special surplus reserves, which will affect the distribution of dividends next year.

Li Changgeng said that he understands investors' demand for dividends, but the first three quarters of this year were very difficult. Taiwan stocks and U.S. bonds have rebounded since the end of September. If the market does not deteriorate, he will do his best to meet the requirements of the competent authorities and the needs of investors.

Regarding the epidemic prevention policy, Xu Jiayuan, senior vice president of Cathay Pacific, explained that from January to October this year, a total of 18.09 billion yuan has been paid out; as of the end of October this year, the direct compensation plus compensation reserves totaled 21.59 billion yuan, of which 18.09 billion yuan was retained.

Xu Jiayuan pointed out that Cathay Pacific still has 653,000 effective anti-epidemic insurance policies, most of which have applied for confirmed claims, and currently only hospitalization claims remain.

Cathay Pacific has started the second capital increase with a quota of 10 billion yuan and hopes to complete it before the end of the year.

Chen Yanru, Chief Financial Officer of Cathay Financial Group, said that in addition to the special surplus reserve that needs to be included in the reclassification, there are also statutory surplus reserves and capital reserves totaling about 250 billion yuan, and the follow-up still depends on market changes and communication with the competent authority on dividend distribution. possible solutions.

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