Bank of Nanjing's convertible bonds maintain AAA rating

Bank of Nanjing Co., Ltd. [SSE:601009] announced that its "Nan Yin Convertible Bonds" maintain their AAA credit rating, according to a follow-up assessment by China Chengxin International Credit Rating Co., Ltd. The bonds, originally issued in June 2021, remain eligible as collateral for repurchase transactions. This announcement comes alongside an adjustment to the 2024 profit distribution plan, stemming from an increase in the company's total share capital due to convertible bond conversions. The adjustment sees the final dividend per share reduced to CNY 0.19931, ensuring that the total dividend payout remains consistent at CNY 2,344,106,091.87. The total dividend payout is CNY 6,054,000,000 which is 30% of its net profits.