Bank of Hangzhou boosts dividend payout, plans value enhancements

Bank of Hangzhou (SSE:600926) is set to increase its cash dividend payout for 2024 by 29% to CNY 398.7 million, demonstrating its commitment to shareholder returns amid solid financial performance. The proposed dividend of CNY 6.50 per 10 shares, up from CNY 5.00 in 2023, will be submitted for shareholder approval at the upcoming annual general meeting. The decision reflects the bank's strong 18.07% growth in net profit, reaching CNY 16.98 billion, and a commitment to distribute at least 20% of distributable profit as cash dividends.