Page 158 - CRC_One Report 2021_EN

Business Overview and Performance Corporate Governance Financial Statements Enclosure

1.6.2 Dividend Payment Policy of Subsidiaries
The Board of Directors of the subsidiary company will consider to pay annual dividend and propose to its shareholders’
meeting for approval each year. The subsidiary company will pay dividends from the net profit according to
the separate financial statements after tax deduction, the allocation of all various funds required by laws and
the company in each year, and the obligations under the financial contract (if any). In this regard, the rate of
dividends will be considered from the results of operations, cash flow, financial liquidity, financial status, investment
plan, reserving funds to be working capital, reserving funds for future investment, reserving funds to repay loans,
conditions and limitations as specified in the financial contract or joint venture agreements by which the company
is bound, economic conditions, including legal requirements and other necessities. The Board of Directors of the
subsidiary company has the power to approve the payment of interim dividends and report to the next shareholders’
meeting of subsidiary company accordingly.

In consideration to approve annual dividends and interim dividends of subsidiaries, the subsidiary company must
ask for approval in the meeting of the Board of Directors of the Company before proceeding unless the subsidiary
company pays dividends in the total amount not less than the amount specified in the annual budget of each
subsidiary or do it according to the dividend payment policy of the subsidiary company which has already been
approved by the Board of Directors of the Company. This is aligned with the policy on investment and supervision
of subsidiaries and associate companies which operate the core business of the Company.

158 Annual Report 2021 (Form 56-1 One-Report)