Taiwan's O-Bank Co. Ltd. proposed a lower cash dividend for the year ended Dec. 31, 2017.

The bank said its board proposed a dividend of 30 New Taiwan cents per share for 2017, down from 45 cents per share for 2016. Payment of the 2017 dividend is subject to shareholders' approval.

O-Bank was previously known as Industrial Bank of Taiwan Co. Ltd.

As of May 16, US$1 was equivalent to NT$29.91.