China Shenhua proposes dividend hike, outlines growth strategy

China Shenhua Energy (SSE:601088) announced a proposed final dividend of RMB 2.26 per share for 2024, a plan that will distribute a total of RMB 44.903 billion to shareholders, pending shareholder approval at the upcoming annual general meeting in late June. This payout represents 76.5% of net profit attributable to equity holders of the company under China Accounting Standards (CAS), and 71.9% under International Financial Reporting Standards (IFRS). The news comes as the company reaffirms its commitment to high shareholder returns.