KVG - 1
Entrusted Management Real Estate Investment Trusts Co.,Ltd
(As of 05.2017)
Note) Data provided above are indicating the expected amounts at the time of distribution, and these should not be used in tax planning or reporting purposes. More detailed and specific data are provided in the investment reports.
Distribution of Profits and Others
Profit Available for Dividend
Regardless of the Commercial Law, Article 462, firms can distribute greater amount of dividends than their profits. In this case, the exceeded amount of dividends are determined within the amount of depreciation expense based on the Real Estate Investment Company Act, Article 32.
The Distribution Date and the Decision Process
This company’s accounting years commence on December 1st and ends on May 31st, and then commence again on June 1st and ends on September 30th. The first accounting year was an exception, as it started with the establishment of the company and ended on the following June 30th. The dividends are approved at the regularly held stockholders’ meetings and are distributed to the shareholders and the mortgagees that are on the list of shareholders at the end of the accounting period. Their means of payment and the payment date are decided by the board of directors. Dividends are distributed within 1 month after the approval of annual financial statements at the general shareholders’ meeting. If, however, these shareholders choose to designate another specific date as the distribution date, the dividens are distributed on the designated date.