BYD shareholders approve profit distribution and capital plans

BYD Company (HKEX:1211) announced the successful passage of resolutions at its Annual General Meeting (AGM), including the approval of its 2024 profit distribution and capital reserve capitalization plan. Shareholders endorsed a cash dividend of RMB39.74 per ten shares, resulting in a total distribution of approximately RMB12,077,248,000. The approved plan also includes issuing eight bonus shares and twelve capitalization shares for every ten shares currently held. The company confirmed it would apply to list and deal with the new H Shares with the Hong Kong Stock Exchange. The record date for H-share distribution is set for June 17, 2025, with share registers closing from June 12-17. In a separate filing, BYD detailed the withholding tax implications for various shareholder types, including non-resident enterprises and investors of Southbound and Northbound Trading. For example, dividends received via Southbound Trading by domestic investors will incur a 20% income tax.