Changsha Bank cuts preferred stock dividend rate

Changsha Bank (SSE: 601577) announced a reduction in the dividend rate for its preferred stock, Changyin Preferred 1 (601577.SS), effective December 25, 2024. The rate will decrease from 5.30% to 3.84% for the next five-year计息周期 cycle. This adjustment marks the end of the initial five-year cycle since the stock's issuance. The new rate is calculated based on a benchmark interest rate, averaged over the 20 trading days prior to December 25, 2024, from the ChinaBond website's government bond yield curve, and a fixed premium of 2.31% established at issuance. The benchmark rate for the new period is 1.53%. Other dividend payment terms remain unchanged as per the original prospectus.