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E.SUN Financial Holding Eyes Dividend Payout Boost Amid Record Profits

Chairman hints at surpassing 90% payout rate, buoyed by historic net profit and strategic financial growth
Taiwan
e 2884.TW Blue Chip 150 OM 60
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E.SUN Financial Holding has unveiled a bold roadmap to boost shareholder returns with the company enjoying a stellar financial performance over the past year. In a recent recruitment meeting, Chairman Huang Nanzhou revealed the company’s plans to potentially raise dividend payout rate beyond the previously announced 80-85% to a likely 90% and beyond following a solid capital position from which to shift from a dividend in shares to larger cash dividends with the first target of a 70% cash dividend payout to be reached this year.

The company’s profit after tax leapt 38.1% to 21.76 billion yuan off net income of 66.68 billion yuan, in the year to 31 December 2023, its 2017 high watermark, with E.SUN Bank, its securities and venture capital arms all reporting robust profit growth. The bank unveiled Financial Management 2.0 and a strategic partnership with Japan’s largest QR code payment operator, PayPay, and further expansion of service offerings to its customers to underscore the company’s innovative approach to banking.

The bank’s overseas operations also reported strong profit growth, with the banks combined net profit contribution more than trebling to 2.13 billion yuan, as compliance costs also increased as the bank pursues a significant increase in sustainable finance initiatives, with the net interest spread falling to 1.5337% over the full year with the first crop of FRRP approved products to be uploaded to the platform for its launch in the new strategic plan.

In an effort to help drive the bank’s ambitious new Cross-Border Finance 4.1, ESG and Fintech/Data Science, the bank is Growing strategy,  E.SUN is embarking an new wave of hires with 600 new talent to be recruited by Christmas this year.

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