Qifu Technology, Inc. Declares Semi-Annual Dividend on Class A Ordinary Share for the Second Half of 2023, Payable on May 21, 2024; Provides Dividend Policy for the Year 2024
March 12, 2024 at 06:00 pm EDT
Share
The board of directors of Qifu Technology, Inc. has approved a dividend of USD 0.29 per Class A ordinary share, or USD 0.58 per ADS for the second half of 2023 to holders of record of Class A ordinary shares and ADSs as of the close of business on April 15, 2024 Hong Kong Time and New York Time, respectively, in accordance with the Company?s dividend policy. The payment date is expected to be on May 21, 2024 for holders of Class A ordinary shares and around May 24, 2024 for holders of ADSs. The aggregate amount of dividend distribution for the fiscal year 2023 will be approximately USD 170 million.
On March 12, 2024, the Board re-affirmed the Company?s existing semi-annual cash dividend policy, which was previously approved by the Board on May 18, 2023. Under the dividend policy, the Company will continue to declare and distribute a recurring cash dividend semi-annually, at an amount equivalent to approximately 20% to 30% of the Company?s GAAP net income after tax for the previous six-month period. The determination to make dividend distributions and the exact amount of such distributions in any particular six-month period will be based upon the Company?s operations and financial conditions, and other relevant factors, and subject to adjustment and determination by the Board.
Qifu Technology Inc, formerly 360 DigiTech Inc, is a China-based company mainly engaged in credit technology services. The services provided by the Company are divided into credit-driven services and platform services according to the nature of the service and the level of related credit risk. The credit-driven services match potential borrowers with financial institutions, enabling financial institutions to obtain borrowers, conduct credit evaluation, fund matching and post-loan services. The platform services include a full range of loan assistance and post-loan services under the capital-light model, intelligent marketing services, referral services, and risk management software as services (SaaS) for financial institution partners under the Intelligent Credit Engine (ICE) model.
Qifu Technology, Inc. Declares Semi-Annual Dividend on Class A Ordinary Share for the Second Half of 2023, Payable on May 21, 2024; Provides Dividend Policy for the Year 2024