DJ EQS-News: [2877.HK] Shineway Doubles Dividend Payout and Guarantees Compound Increase in Future Annual Dividend Based on Net Profit Growth
EQS-News / 19/07/2021 / 22:06 UTC+8 Shineway Doubles Dividend Payout and Guarantees Compound Increase in Future Annual Dividend Based on Net Profit GrowthChina Shineway Pharmaceutical Group Limited (stock code: 2877.HK) announced that it has adopted a new dividend policy that would bring impressive cash dividend return to its shareholders and becoming a "cash-cow of sustainable growth". The new dividend policy is summarized as followed:
1. Shineway expects to declare a dividend of HKUSD0.39 per share in the second half of calendar year 2021. Together with
the 2020 final dividend of HKUSD0.21 per share distributed on 17 June 2021, shareholders will receive a total
dividends of HKUSD0.60 per share in the calendar year of 2021. This amount is nearly a double of the 2020 dividend.
2. Starting from the calendar year of 2022, dividends would be compound increased by a guaranteed 15%. If the annual
growth in net profit (without regard to one-time non-recurring profit and loss items) of the preceding year
exceeded 15%, then the increase in dividends for that particular year will be based on the growth in net profit of
the preceding year.
Assuming a 25% net profit growth in each year, and a 1.2 exchange rate of RMB to HKD, dividends for the next three
years can be depicted as follows:
? Dividends to be paid in 2021: RMB 0.60 / HKUSD 0.72
? Dividends to be paid in 2022: RMB 0.75 / HKUSD 0.90
? Dividends to be paid in 2023: RMB 0.94 / HKUSD 1.13
? Dividends to be paid in 2024: RMB 1.18 / HKUSD 1.42
3. From the calendar year of 2022 onwards, the dividends as declared by the Company shall be paid out to the
shareholders of the Company four times a year at quarterly intervals in the form of interim dividends.
Shineway is confident that this new dividend policy which guarantees compound increase in future annual dividend based on net profit growth would attract long-term investors to invest in Shineway's shares.
For more details, please contact DLK Advisory by emailing to ir@dlkadvisory.com.
19/07/2021 Dissemination of a Financial Press Release, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com
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(END) Dow Jones Newswires
July 19, 2021 10:06 ET (14:06 GMT)
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