Annual Dividend Policy and Declaration of 2023 Dividend
On May 11, 2024, the Company's board of directors adopted an annual cash dividend policy, under which the Company may choose to declare and distribute a cash dividend each year in accordance with the memorandum and articles of association of the Company and applicable laws and regulations. Under the policy, the Company's board of directors determines whether to make dividend distributions and the amount of such distributions in any particular year, depending on the Company's operations and earnings, cash flow, financial condition, and other relevant factors.
Accordingly, on the same day, for the fiscal year of 2023, the Company's board of directors declared a cash dividend of US$0.0685 per ordinary share, or US$0.1370 per ADS, to holders of record of ordinary shares and ADSs as of the close of business on May 31, 2024. The aggregate amount of cash dividends to be paid will be approximately US$210 million and is expected to be paid on or around June 21, 2024 and on or around June 27, 2024 for holders of ordinary shares and holders of ADSs, respectively. Holders of the Company's ADSs will receive the cash dividends through the depositary, The Bank of New York Mellon, subject to the terms of the deposit agreement.