CHINA CINDA (01359.HK): Declares USD 83.1 Million Dividend on Overseas Preference Shares and Proposes Full Redemption
NewTimeSpace News: On 31 August 2026, China Cinda Asset Management Co., Ltd. (stock code: 01359) announced that the Board had approved the dividend distribution plan for the overseas preference shares at a board meeting held on the same day, and that the Company proposes to redeem all of the overseas preference shares on 3 November 2026. The Company successfully issued overseas preference shares with an aggregate amount of USD 1.7 billion on 3 November 2021.
According to the announcement, the dividend plan provides for an interest period from 3 November 2025 (inclusive) to 3 November 2026 (exclusive), with 2 November 2026 as the record date and 3 November 2026 as the dividend payment date; the initial dividend rate of the overseas preference shares is 4.4% (after-tax, being the rate actually received by holders of the overseas preference shares). The Company will distribute dividends of USD 83,111,111.11 on the overseas preference shares, of which USD 74,800,000.00 will be actually paid to the holders, and the Company will bear related taxes of USD 8,311,111.11 in accordance with tax regulations and the terms and conditions of the overseas preference shares. Under relevant laws, the Company is required to withhold income tax at a rate of 10% when distributing dividends on the overseas preference shares.
As for the redemption, the Board resolved at a meeting held on 29 June 2026 to redeem all of the overseas preference shares on 3 November 2026, subject to obtaining approval from the National Financial Regulatory Administration (NFRA) and satisfying relevant requirements. The Company recently received a reply from the NFRA expressing no objection to the redemption. In accordance with the terms and conditions of the overseas preference shares, the Company proposes to redeem all of the overseas preference shares on 3 November 2026, and will handle other application procedures with relevant regulators in accordance with applicable laws and regulations and the offering documents, and fulfill its disclosure obligations in accordance with the law.
As of the date of the announcement, CCB Nominees Limited, acting as a nominee, is the only registered holder of the overseas preference shares; payment to or upon the instruction of the nominee is deemed to have fulfilled the Company's obligation to pay dividends on the overseas preference shares.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
