Valin Steel proposes CNY0.10 dividend, eyes share repurchase

Hunan Valin Steel (SZSE:000932) announced its 2024 profit distribution plan, proposing a cash dividend of ¥0.10 per 10 shares, totaling ¥690.61 million. This represents 33.99% of the net profit attributable to shareholders, a 2.7 percentage point increase from 2023. Concurrently, the board approved a share repurchase plan using ¥200 million to ¥400 million to boost investor confidence. Factoring in the potential repurchase, the total shareholder yield could reach 53.68% of 2024 earnings. The company's management is authorized to manage details of this repurchase, such as time and volume. These shareholder returns are in line with the company’s new "Quality and Return" initiative and reflect its strong financial performance amid industry challenges. Hunan Valin Steel management aims to maintain shareholder returns and focus on improving operations.