Far Eastern Department Store Holds 2024 Regular Shareholders Meeting On June 18th, Far Eastern Department Store (FEDS) held a regular meeting of shareholders. In 2023, the department store retail market experienced a post epidemic recovery. Far Easten Retail Group actively adjusted its operating model and achieved impressive results. In particular, FEDS's performance reached a new peak, driving Far Eastern Retail Group to reach new highs in financial data such as consolidated revenue, pre tax net profit, and post tax net profit. Last year, Far Eastern Retail Group's consolidated revenue was NTD135 billion, with an earnings of NTD1.95 per share and a cash dividend of NTD1.6 per share, maintaining a high cash dividend yield. In the future, FEDS will continue to invest in development opportunities in various regions. In addition to the renovation project of our Baoqing store, FEDS also plans to add new locations in TPARK Park in New Taipei City. With six growth drivers: continuous store expansion, enhanced experience, digital transformation, innovative management, development of online shopping, and sustainable operation, FEDS will move towards an international department store retail group. Read More | |
Far Eastern International Bank Holds 2024 Regular Shareholders Meeting On June 19th, Far Eastern International Bank (FEIB) held a regular meeting of shareholders to report on the operational performance of the previous year, and conveyed major achievements such as the leap in digital financial momentum, rapid progress in overseas cross-border business, and significant increase in wealth management brand awareness, as well as future operational plans. During the meeting, NTD1.012 dividends were distributed per share, including NTD0.506 cash dividends and NTD0.506 stock dividends, with a dividend payout ratio of approximately 98%. In 2023, total assets and net worth increased by 7% annually, reaching NTD 792.5 billion and NTD 58.9 billion, respectively. Due to the slowdown in volatility in the stock and bond markets, significant growth in investment interests in the financial market, and effective control of management and sales expenses and net deposit expenses, FEIB achieved a net profit of NTD4.17 billion after tax in 2023, setting a new high since its establishment. In the future, FEIB will continue to layout a four axis drive transformation of "cross-border*AI digital*brand*sustainability", providing customers with high-quality financial services that are internationalized, digitized, and life oriented. Read More | |
Far Eastern Telecom Holds 2024 Regular Shareholders Meeting On June 21st, Far Eastern Telecom held a regular shareholders meeting, led by Chairman Douglas Tong Hsu and the General Manager and management team of Chee Ching, to present the operational results and future layout for 2023. In 2023, various financial indicators such as consolidated total revenue, consolidated EBITDA (earnings before tax, depreciation and amortization), net profit after tax, and earnings per share (EPS) all reached a new high in nearly 7 years. During the meeting, a cash dividend of NTD 3.25 per share was issued, with a dividend payout rate of 105%. The dividend payout rate has exceeded 100% for 13 consecutive years. Far Eastern's business performance has been highly recognized by the capital market. Since the beginning of 2023, the stock price has risen by 33% and the market value has risen by 42%, ranking first in the telecommunications industry. In May of this year, the market value has reached the NTD 300 billion mark for the first time, achieving impressive results. In the future, Far Eastern Telecom will strive for more user support and empower communication business and value-added services through generative AI. Far Eastern Telecom’s goal is to expand the base in one year, achieve success in two years, and take off in three years, reaching a new milestone. Read More | |