Bank of China to distribute dividends, redeem offshore preference shares

Bank of China Limited announced a dividend distribution and concurrent redemption plan for its Offshore Preference Shares. The dividend period covers March 4, 2024, to March 3, 2025, with a record date of March 3, 2025, and payment date of March 4, 2025. The pre-tax dividend amount is approximately US$112.8 million, with US$101.52 million after a 10% withholding tax borne by the bank. This equates to a 3.60% annual dividend yield. The bank will also redeem all outstanding Offshore Preference Shares at par value plus accrued dividends. The Bank of New York Mellon, London Branch, will act as the payment agent. Holders should consult their custodians for payment details. This action follows approval from the bank's board and the National Financial Regulatory Administration.