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BIDU-SW Plans to Repurchase Shrs in USD5B, Announce First Div. This Yr
Recommend 8 Positive 19 Negative 2 |
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BIDU-SW (09888.HK) announced that its board of directors approved a new US$5 billion share repurchase program and a dividend policy, with the objective of further enhancing shareholder returns. The Board authorized a new share repurchase program for up to US$5 billion of the Company’s shares, effective through December 31, 2028. The Board will periodically review the repurchase program and may adjust its terms and size as appropriate. Repurchases may be effected from time to time through open market transactions at prevailing prices or by other legally permissible means, in compliance with applicable regulations and subject to market conditions. In addition, with the objective of further enhancing shareholder returns, the Board approved the adoption, for the first time, of a dividend policy for the Company’s ordinary shares, which may include regular and/or special distributions of dividends. The Board expected to declare the first payment of dividend in 2026. Future dividend distributions will be supported by sustainable funding sources, primarily derived from operating profits and potentially supplemented by proceeds from non-core asset disposals and other investment returns. The Board intends to establish a clear, balanced policy framework that aligns shareholder returns with the continued strategic growth of the Company. With the Group's substantial cash reserves and sound financial management capabilities, it aims to create and continuously enhance long-term value for its shareholders through its proactive shareholder return initiatives. AASTOCKS Financial News Website: www.aastocks.com |
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