First Gold (2892-TW) made brilliant profits. In the first October of this year, its net profit after tax of RMB 17.692 billion has surpassed the profit in the previous year (2020). First Gold also advertised to minority shareholders that “more profit will lead to more distribution” Based on current profit estimates, the cash dividend next year is expected to exceed 1 yuan.
Since 2012, First Gold has had a dividend (stock + cash) of at least 1 yuan, mainly cash dividends with a small stock dividend, the earnings distribution rate in the past 10 years has been at least 75%; take this year as an example, last year The net profit per share (EPS) is 1.31 yuan. This year, a dividend of 1 yuan per share will be distributed, with a distribution rate of about 76%.
However, after the first bank, the main profit-making bank, was included in the systemic bank, the outside world is concerned about whether policy factors will affect the distribution of the gold holdings’ dividends, making the dividend policy the focus of the legal media.
Regarding the dividend policy, the director of First Gold said frankly that although the cash dividend distribution rate will drop slightly, as long as the overall profit continues to grow, the dividend policy will still follow the principle of “earning more, more allocation”. The cash dividend next year is expected to be higher Increase this year.
For example, based on First Gold’s after-tax profit per share (EPS) of RMB 1.36 for the first 10 months of this year, and last year’s cash dividend distribution rate of approximately 0.68% as an estimate, next year’s cash dividend would be approximately RMB 0.92. Under the premise of continued profit growth, The legal person estimates that First Gold will have a chance to look at 1 yuan in cash dividends next year.
In addition, in the overseas market, First Gold will focus its business next year on the French gold and overseas markets. The overseas market is optimistic about the increase in vaccine coverage, which is expected to make the European, American and ASEAN markets profitable. The profit ratio target will be increased to 45%.
As for the newly opened US Houston branch in February, the director of First Jin said that it is estimated that it will reach a single-month profit and loss balance as early as July of next year (2022).
First Gold held the third quarter online legal meeting today (30). The net profit after tax in the first three quarters was 16.521 billion yuan, an annual increase of 23.5%, the net profit after tax per share (EPS) was 1.27 yuan, and the net profit after tax of the core company bank was 14.779 billion yuan. The annual profit growth of securities companies in Taiwan has increased by 1.8 times. In addition, the annual profit growth of First Gold Life Insurance has also increased by +32.6%, and the non-bank subsidiary’s profit contribution has reached 12%.
