SOL Global Investments Corp. Q2 FY2023 Earnings Call

Unidentified Company Representative: Good morning, everyone. This is [indiscernible] the Treasurer of SOL. I’d like to extend my gratitude to investors and analysts, home and abroad for joining the conference call for SOL’s Q2 Earnings Release. Here with me are, Executive Vice President and the CFO Ju-Wan Bang, IR team [leader indiscernible] and team members. Before we go through performance highlights, let me brief you on the company’s shareholder return policy. Believing that returning profits of the company to shareholder is based on consistent shareholder return policy, while maintaining sustainable growth and competitiveness is the best way to maximize the shareholder returns. We are implementing a consistent dividend policy of paying out dividend in consideration of annual net income, stable capital structure and funding needed for investment aimed at future growth. We also disclosed Pacific Dividend guideline on a regular basis to improve investors outlook on the probability of dividend payment. Yesterday, the company disclosed dividend guideline that maintains dividend payout ratio at around a 20% of net income or higher during fiscal year 2023 and 2024 to protect shareholder value even with the large scale investment in Shaheen project. This is a conservative approach given that we are at the initial stage of the Shaheen project which requires huge CapEx. Once the investment funding for the project is a secured above a certain level dividend payout ratio may go up ag