Dividend: In March 2020, the Board of Directors has approved a target dividend payout ratio for 2020. In accordance with the decision of the Board of Directors, the Company aims to distribute at least 50% of Group Adjusted Net Profit for 2020.
Following the determination of the first quarter 2020 financial results and taking into account our current operating environment, our Board of Directors approved a dividend of USD 14 cents per share. The dividend record date is June 2, 2020, and the Company intends to pay the dividend on June 4, 2020. The holders of ADSs will receive the dividend shortly thereafter.
The Board of Directors reserves the right to distribute the dividends on a quarterly basis, as it deems necessary so that the total annual payout is in accordance with the target range provided, though the payout ratios for each of the quarters may vary and be outside of this range.
It remains the long-term intention of the Company to distribute all excess cash to the shareholders.