May 26, 2022

Chinese real estate company Kaisa intends to pay an interim dividend of approximately HK$280 million from the share premium account

Chinese real estate company Kaisa intends

Kaisa 1638.HK , a Chinese real estate company , said that it will hold an extraordinary general meeting on October 27 to consider and decide on the declaration and payment of an interim dividend of HK$0.04 per share from the share premium account.

According to the company’s announcement, as of the date of the announcement, the company has approximately 7.015 billion issued shares, and interim dividends will be paid out of approximately RMB 233 million (approximately HK$280 million) in the account of the cancellation of the share premium account.

After the payment of the interim dividend, there will still be approximately RMB 6.225 billion in the share premium account. After considering the company’s cash flow and financial situation, the board of directors believes that the payment of interim dividends is appropriate to affirm the long-term support of shareholders. The directors also believe that it is not necessary to maintain the share premium account at the current level. Therefore, the payment of interim dividends from the share premium account is in the interests of shareholders and the company as a whole.

Kaisa’s shares closed at HK$1.96 on Tuesday, down more than 14% in the past month.

Dennis Morris writes related to the Business Category. He manages to cover anything thrown at him in these two verticals owing to his natural inclination towards Business. Dennis is our freelance contributor. He is responsible for covering developments in finance and business categories.