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CNOOC To Conduct Buyback of H Shrs Timely This Yr
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CNOOC (00883.HK) announced its business strategy and development plan for 2025. Subject to the approval of the shareholders' meeting, the company committed to a dividend payout ratio of not less than 45% for the whole year from 2025 to 2027. Wang Yufan, General Manager of the Finance Department, said that the management will also adjust the prevailing dividend policy in a timely manner according to the changes in the market environment, taking into account the wishes of the shareholders of the Company, strategic planning, operating conditions and other factors, and adhering to the principle of rewarding the shareholders. He said the management will also launch the repurchase of Hong Kong shares in a timely manner based on the market conditions within the scope of authorization by the shareholders' general meeting. Asked about CNOOC’s previous commitment to pay an annual DPS of not less than HKD0.7 for the period from 2022 to 2024, Vice Chairman and CEO Zhou Xinhui explained that the company delisted from the U.S. in 2022, when the market was relatively dismal. The delisting decision was made in order to bolster investor sentiment and show support for its shareholders, and that CNOOC would not provide an absolute dividend commitment according to the company's usual practice, Zhou said. AAStocks Financial News |
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