To: All Shareholders
The Board of Directors of United Overseas Bank Limited wishes to make the following announcement:
Unaudited Financial Results for the First Half/Second Quarter Ended 30 June 2020
Details of the financial results are in the accompanying Group Financial Report.
Dividends and Distributions for the Second Quarter Ended 30 June 2020
Ordinary share dividend
An interim one-tier tax-exempt dividend of 39 cents (2Q19: 55 cents) per ordinary share has been declared in respect of the financial year ending 31 December 2020. The UOB scrip dividend scheme (the “Scheme”) will be applied to the interim dividend. A separate announcement will be made of the books closure and relevant dates for participation in the Scheme.
Distributions on perpetual capital securities
On 20 April 2020, a semi-annual distribution at an annual rate of 3.875% totalling US$13 million was paid on the Bank’s US$650 million 3.875% non-cumulative non-convertible perpetual capital securities for the period from 19 October 2019 up to, but excluding 19 April 2020.
On 18 May 2020, a semi-annual distribution at an annual rate of 4.00% totalling S$15 million was paid on the Bank’s S$750 million 4.00% non-cumulative non-convertible perpetual capital securities for the period from 18 November 2019 up to, but excluding 18 May 2020.
Interested Person Transactions
The Bank has not obtained a general mandate from shareholders for Interested Person Transactions.
Confirmation by Directors
The Board of Directors hereby confirms that, to the best of its knowledge, nothing has come to its attention which may render the unaudited financial results of the Group for the first half/second quarter ended 30 June 2020 to be false or misleading in any material aspect.
Undertakings from Directors and Executive Officers
The Bank has procured undertakings in the form set out in Appendix 7.7 of the Listing Manual from all its directors and executive officers pursuant to Rule 720(1) of the Listing Manual.
BY ORDER OF THE BOARD
UNITED OVERSEAS BANK LIMITED
Joyce Sia / Theresa Sim
Company Secretaries
Dated this 6th day of August 2020
The results are also available at www.UOBgroup.com
