Annual Report 2019

Corporate Governance Report 055 Miramar Hotel and Investment Company, Limited Annual Report 2019 Board Diversity Policy The Board has adopted a board diversity policy which aims to set out the approach to achieve diversity on the Board. The Company recognises and embraces the benefits of having a diverse Board to enhance the quality of its performance. All Board appointments will be based on meritocracy, and candidates will be considered against the selection criteria. Selection of candidates will be based on a range of diversity perspectives, which would include but not limited to gender, age, cultural and educational background, professional experience, skills, knowledge and length of service. Appointments will be first considered by the Nomination Committee and recommendation of the Nomination Committee are then put to the Board for decision. The ultimate decision will be based on merit and contribution. Dividend Policy The dividend policy of the Company is to allow its shareholders to participate in the Company’s profits whilst to retain adequate reserves for future growth. Pursuant to the Dividend Policy, the Board may propose/declare the payment of dividend after taking into account the following factors: (1) the actual and expected financial performance of the Company and its subsidiaries; (2) economic conditions and other internal or external factors that may have an impact on the business or financial performance and position of the Group; (3) the Group’s business strategies, including future cash commitments and investment needs to sustain the long-term growth aspect of the business; (4) the current and future operations, liquidity position and capital requirements of the Group; and (5) any other factors that the Board deems appropriate.