Summary by Moomoo AI
China Central Iron Co., Ltd. announced on March 28, 2024 a profit distribution plan for 2023, which includes a cash dividend of RMB 2.10 per 10 shares (tax included). The distribution plan is based on 24,750,629,817 shares of the Company's total share capital as of March 28, 2024, with a total dividend of approximately RMB 51.98 million, representing 15.52% of the net profit attributable to the shareholders of the listed companies in the year. The company explained that the main reason for the cash dividend ratio of less than 30% is due to the characteristics of the company's industry, stage of development and operating model, and the large amount of capital required to maintain day-to-day business turnover. IN ADDITION, THE COMPANY STATED THAT CASH DIVIDENDS WILL NOT HAVE A SIGNIFICANT IMPACT ON THE COMPANY'S EARNINGS PER SHARE AND OPERATING CASH FLOW AND WILL NOT AFFECT THE COMPANY'S NORMAL OPERATIONS AND LONG-TERM DEVELOPMENT. THE PROFIT DISTRIBUTION PLAN IS STILL SUBJECT TO SUBMISSION TO THE 2023 GENERAL MEETING FOR CONSIDERATION.