Juneyao Air proposes cash dividend, alters buyback for capital reduction
Juneyao Airlines (SSE:603885) announced a proposal for a 2024 cash dividend of CNY0.10 per share (CNY217.45 million total) and revealed plans to reduce its share capital by cancelling 15 million shares repurchased through prior buyback programs. The canceled shares are from past buyback programs and their values are adjusted on Jun. 24 for approximately CNY162.3 million in total, thus reducing the original budget spent on said programs. The moves aims to improve long-term shareholder value and boost earnings per share. The proposed distribution is contingent on shareholder approval at the 2024 annual meeting. The board has planned to also continue its 2025 buyback program, allocating between CNY250 million and CNY500 million. All moves align with requirements and will need approval. The company had 2024 revenues of CNY22.09 billion. The airline's actual controller is Mr. Junyao, with shares managed with a group of other key employees, is in charge.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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