This excerpt taken from the LPL 20-F filed Apr 11, 2005.
Article 43-2. (Quarterly Dividends)
(1)
The Company may pay quarterly dividends in accordance with Article 192-3 of the SEA to its shareholders who are registered in the shareholder’s registry as of 24:00 p.m. on the
day on which 3 months, 6 months or 9 months have passed, respectively, from the beginning of the relevant fiscal year . Such quarterly dividends shall be made in cash.
(2)
The quarterly dividends mentioned in Paragraph (1) above shall be decided by a resolution of the Board of Directors, which resolution shall be made within forty-five (45) days from
the date mentioned in Paragraph (1) above.
(3)
The maximum amount to be paid as quarterly dividends shall be calculated by deducting the following amounts from the net asset amounts recorded in the balance sheet of the fiscal
year immediately prior to the fiscal year concerned:
1.
Paid in capital of the company for the fiscal year immediately prior to the fiscal year concerned;
2.
The aggregate amount of capital reserves and legal reserves which had been accumulated up until the fiscal year immediately prior to the fiscal year concerned;
3.
The amount which was resolved to be distributed as dividends at an ordinary General Meeting of Shareholders of the fiscal year immediately prior to the fiscal year concerned;
4.
Voluntary reserves which had been accumulated for specific purposes in accordance with the relevant provisions of the Articles of Incorporation or by resolution of the General
Meetings of Shareholders until the fiscal year immediately prior to the fiscal year concerned;
5.
Aggregate earned surplus reserves to be accumulated for the fiscal year concerned as a result of the quarterly dividends; and
6.
Aggregate quarterly dividends, if any, that have been declared during the fiscal year.
(4)
If the Company has issued new shares (including those shares issued by way of conversion of reserves into capital stock, stock dividends, request of conversion of convertible bonds
or exercise of warrants) prior to the date set forth in Paragraph (1) above, but after the commencement date of the fiscal year concerned, the new shares shall be deemed to have been issued at the end of the fiscal year immediately prior to the
fiscal year concerned for the purpose of quarterly dividends.
(5)
When distributing quarterly dividends, the same dividend ratio as that of the common shares of the Company shall be applied to the preferred shares.
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