Bank of Hangzhou proposes increased 2024 dividend, expands capital

Bank of Hangzhou (SSE:600926) announced its 2024 profit distribution plan, proposing a cash dividend of CNY 0.28 per share, bringing the total annual dividend to CNY 0.65 per share, a 25% increase year-over-year. This distribution, pending shareholder approval, reflects a payout ratio of 24.47% and involves a total cash distribution of CNY 3,987.13 million. The bank highlighted that this balanced approach ensures continuous and stable operations, taking into account both shareholders' interests and reinvestment.