On December 15, 2005 the Board of Directors approved the following dividend policy of the bank:
“The Board of Directors will declare, at its discretion, dividends to shareholders. These dividends will be paid from the realized earnings of NCB Ja. Ltd. The dividends will be subject to a maximum of 50% of the ordinary realized profit earned each year and will be applied after taking account of all transfers. In the event that the payout is less than 50% in any one year, the Board of Directors reserves the right to increase future distributions proportionately.
Further, the Board, at its discretion, may distribute to its shareholders the full amount of any and all realized gains arising from non-recurring or extraordinary transactions.”
