Baofeng Energy announces 2024 dividend plan

Ningxia Baofeng Energy Group Co., Ltd. (SSE:600989) has announced its 2024 equity distribution plan, approved at the company's annual general meeting on April 2, 2025. The plan includes a cash dividend distribution to all shareholders of record as of May 12, 2025. Minority shareholders will receive CNY 0.4598 per share, while the major shareholder will receive CNY 0.3891 per share, with a total distribution of CNY 3,006,627,791.21, equivalent to CNY 0.41 per share. The ex-dividend date is set for May 13, 2025, with cash dividends payable on the same day. The dividend reflects an adjustment based on shareholder compensation due to educational donations made by the major shareholder. Tax implications vary depending on the type of shareholder and holding period.