| Period | No. | Dividend Rate (THB/Unit) |
No. | Reduction of Capital Rate (THB/Unit) |
Total (THB/Unit) |
| Year 2015 | 1-4 | 0.7400 | - | - | 0.7400 |
| Year 2016 | 5-8 | 0.9000 | 1-2 | 0.1247 | 1.0247 |
| Year 2017 | 9-12 | 0.9100 | 3 | 0.0237 | 0.9337 |
| Year 2018 | 13-16 | 0.9000 | - | - | 0.9000 |
| Year 2019 | 17-20 | 0.9000 | - | - | 0.9000 |
| Year 2020 | 21-24 | 0.9900 | - | - | 0.9900 |
| Year 2021 | 25-28 | 0.9500 | - | - | 0.9500 |
| Year 2022 | 29-32 | 0.9200 | - | - | 0.9200 |
| Year 2023 | 33-34 | 0.4600 | 4-5 | 0.3200 | 0.7800 |
| Quarter 1 Year 2024 | - | - | 6 | 0.1900 | 0.1900 |
| Quarter 2 Year 2024 | - | - | 7 | 0.1900 | 0.1900 |
| Quarter 3 Year 2024 | - | - | 8 | 0.1600 | 0.1600 |
| Total | 1-34 | 7.6700 | 1-8 | 1.0084 | 8.6784 |
1st - 3rd Capital reduction
The Fund had excess cash from advance rental payment amounting THB 816.51mn which the Fund received from Triple T Broadband Public Company Limited (“TTTBB”) at the Closing Date pursuant to the Initial Main Lease Agreement. The Management Company decreased the capital of the Fund THB 685.85mn in 2016 and THB 130.35mn in 2017 respectively. The capital reduction was made as predetermined and clearly described in the Fund Scheme.
The advance rent of THB 816.51mn is the rent for the last three months under the Amended and Restated Main Lease Agreement which will be paid to the Fund in 2038. Therefore, the above capital reduction may result in Unitholders receiving less dividends in the future since the advance 3-month rental was already paid in the form of capital reduction. In addition, in the event of a force majeure event, which prevents the Fund from leasing the Optical Fiber Cables to TTTBB and, as a result, the Amended and Restated Main Lease Agreement is terminated, the Fund shall still be liable and return the advance rent to TTTBB, provided that TTTBB has fulfilled all its obligations thereunder. In such an event, the Fund may not have sufficient funds to make such payment, in whole or in part, to TTTBB.
4th - 8th Capital reduction
As of 30 September 2023, 31 December 2023, 31 March 2024,30 June 2024 and 30 September 2024, the Fund has accumulated loss at THB 8,681.65mn THB 8,196.15mn THB 7,106.82mn THB 7,411.98mn and THB6,237.98mn, respectively, which was caused by the fund having losses from changes in fair value of investments was THB 12,200.04mn THB 19,099.98mn THB 399.96mn THB 1,799.87mn and THB 300.10mn. This new fair value reflected the resolution of the EGM #1/2023 on 23 August 2023, which resolved to cancel the Amended and Restated Rental Assurance Agreement and The Amended and Restated Marketing Services Agreement. The effect is to cancel and suspend payments according to both contracts from the date the unitholders' meeting approves them onwards. Therefore, the Fund is unable to pay dividends to unitholders for the Q3 - Q4/2023 and Q1-Q3/2024 . This is in accordance with the criteria and dividend payment policy specified in the Fund's prospectus.
Incidentally, the Fund has cash from operations for the accounting period from 1 July 2023 to 30 September 2023 1 October 2023 to 31 December 2023 1 January 2024 to 31 March 2024 1 April 2024 to 30 June 2024 and 1 July 2024 to 30 September 2024 in the amount of THB 1,938.71mn THB 1,485.53mn THB 1,489.29mn THB 1,494.70mn and THB 1,474.11mn, respectively, since a loss on valuation of investments is non-cash expense. The management company, therefore, will distribute such cash to unitholders in the form of capital return of THB 1,280.00mn THB 1,280.00mn THB 1,520.00mn THB 1,520.00mn and THB 1,280.00mn, respectively.