Guangzhou Baiyun Airport announces enhanced dividend plan

Guangzhou Baiyun International Airport (SSE:600004) announced a special cash dividend plan contingent on the successful completion of a proposed private placement of A-shares to its controlling shareholder, Guangdong Airport Management Group. If the fundraising proceeds as planned, the company commits to distributing cash dividends of at least 50% of its net income attributable to shareholders for the years 2024, 2025, and 2026. This enhanced dividend policy aims to maintain consistent shareholder returns and protect the interests of minority shareholders, particularly following the capital increase from the private placement. The company acknowledges potential adjustments to the plan if the equity offering fails or due to unforeseen circumstances. Existing dividend policies outlined in the company's articles of association and the three-year shareholder return plan (2024-2026) will apply if the special arrangement is not implemented.