Evergrande will discuss annual dividends of up to 18.7 billion

China Evergrande (3333) has always been generous in dividends

It issued a notice yesterday that Evergrande’s board of directors will hold a meeting on December 8th to pass the company’s 2018 dividend distribution plan, based on the previous dividend payout ratio of Evergrande. About 50% of the calculation, this is a dividend or as much as 18.7 billion yuan (RMB, the same below).

According to information published by Evergrande, the company’s annual dividend payout ratio remained between 50% and 55% between 2013 and 2015, while the 2016 and 2017 full-year dividends were distributed at the end of last year. The payout ratio is 156% and 29% respectively

If the ratio of past dividends is higher than 50%, the net profit last year was 37.39 billion yuan, so the dividend will have a chance of up to 18.7 billion yuan. If you calculate the closing price of Evergrande yesterday at HK$19.16, the dividend yield may exceed 8.2%.

When China Heng announced that it had released its full-year results in April this year

it said that it planned to hold a meeting to evaluate the dividend plan in July this year, but it was proceeding in an orderly manner due to the consideration of the major asset restructuring of its Evergrande Real Estate and Shenzhen Housing. In order to ensure the smooth completion of the restructuring, it is decided to complete the 2018 dividend distribution plan by December 31, 2019.


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