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Highlights
Huatai Securities confirms cash dividend of RMB0.37 per share for FY 2024
Dividend payout scheduled for A shares and GDRs on separate dates
Withholding tax of 10% applicable for GDR holders under Chinese regulations
Operating in the financial services sector, Huatai Securities Co., Ltd. has officially announced a dividend distribution for the past fiscal year. The company, listed on the Shanghai Stock Exchange under the ticker 601688 and represented on the London Stock Exchange as LON/LSE:601688, will distribute a cash dividend to eligible shareholders. The dividend, approved during the annual general meeting in June, applies to the company's outstanding shares, including both domestic A shares and Global Depositary Receipts (GDRs).
Dividend Details for A Shareholders
A shares, traded on the mainland, will be the first to receive the dividend. The record date for these domestic shares is confirmed for mid-August, while the ex-dividend and distribution dates are scheduled for the following day. The dividend will be paid in cash, and a significant portion of the total declared amount is allocated to these A shares.
GDR Payment Schedule and Taxation Framework
Holders of GDRs, traded on the London Stock Exchange, will also receive dividend distributions on the same record date as A share holders. Citibank, acting as the nominal holder for the domestic underlying shares linked to the GDRs, is responsible for processing the payments. Disbursements to GDR investors will be facilitated through Euroclear and Clearstream systems and are expected to reach recipients a week after the A share payment date.
Under current Chinese tax laws, a withholding tax rate of ten percent applies to the dividends paid to GDR holders. However, international investors who meet specific treaty conditions may apply for applicable tax treaty treatment.
Exclusion of H Share Holders
The current dividend distribution is not applicable to H shares. The company has made separate arrangements for this category of shares, as previously outlined in its June announcement. Investors holding H shares are advised to refer to that specific notice for complete information regarding their dividend entitlements.
About Huatai Securities
Huatai Securities is a major player in the financial services market, offering a comprehensive range of services including wealth management, institutional brokerage, and investment banking. The firm’s listing on both the domestic and international markets underscores its strategic efforts to maintain transparency and global reach. The dividend announcement adds to the ongoing updates relevant to those monitoring ftse 100 today, reflecting broader cross-border market activities.
Frequently Asked Questions
- What is the ex-dividend date for A shares?
The ex-dividend date for A shares is scheduled one day after the record date in mid-August. - How will GDR holders receive their dividend?
GDR holders will receive their dividend through Euroclear or Clearstream, managed by Citibank as the nominal holder. - Are H shares included in this dividend?
No, H shares are not part of this dividend distribution and are covered under a separate arrangement.
