Half a month before the change of the board of directors,
Gree Electric intends to spend 5.5 billion yuan in dividends
Gree Electric released an announcement on the evening of February 13, announcing its mid-term profit distribution plan for 2021.
According to the plan, Gree Electric plans to distribute a cash dividend of 10 yuan (tax included) to all shareholders for every 10 shares, and Gree Electric will distribute a cash dividend of more than 5.5 billion yuan for this purpose.
According to a reporter from Beijing Youth Daily, not many domestic A-share listed companies have achieved mid-term dividends, and such large-scale mid-term dividends as Gree are even rarer.
According to the current stock price of less than 40 yuan of Gree Electric, the return of this interim dividend is more than 2.5%.
It is worth mentioning that the time when Gree generously announced the dividend plan this time was just half a month before the company's board of directors voted, so it has also attracted much attention.
Gree Electric achieved a total net profit of more than 7.887 billion yuan (unaudited) in the first half of 2021. As of June 30, 2021, the company's profit for distribution to shareholders was more than 59.671 billion yuan (unaudited).
According to the 2021 mid-term dividend distribution plan announced this time, the company plans to temporarily use the total number of shares with profit distribution rights on February 11, 2022 of 5.536 billion shares (the total share capital of 5.914 billion shares minus the number of shares held by the company's repurchase account of 377 million shares) ) as the base, to distribute cash dividends of 10 yuan (tax included) to all shareholders for every 10 shares, no bonus shares, and no conversion of reserve funds to share capital, with a total cash dividend of more than 5.536 billion yuan.
The Beiqing Daily reporter noticed that the distribution plan has been unanimously approved by 7 directors above the board of directors held by Gree Electric on February 13.
Liu Shuwei, Wang Xiaohua and Xing Ziwen, independent directors of Gree Electric, have expressed their independent opinions on the distribution plan, and believe that the profit distribution plan is in line with the company's actual situation, reflects reasonable returns to investors, and is in line with the unanimous interests of the company and all shareholders.
Gree Electric's sudden announcement of the mid-term dividend plan has a big background, that is, last month Gree Electric just announced a "Shareholder Return Plan for the Next Three Years (2022-2024)" that has attracted much attention from the outside world. From 2022 to 2024, the company will carry out two profit distributions each year, namely annual profit distribution and interim profit distribution; and promise that the company will accumulate cash dividends from 2022 to 2024 on the premise that the company's cash flow meets the company's normal operation and long-term development. The total amount is not less than 50% of the net profit for the year.
At present, the 2021 mid-term dividend plan announced by Gree Electric this time is completely within the framework of this plan.
It is worth mentioning that the timing of Gree Electric's announcement of the dividend plan is also quite sensitive.
Because just half a month later, at the end of February, Gree Electric is about to change its board of directors, and Dong Mingzhu continues to be a director candidate.
According to the "Proposal on the Election of the Board of Directors and the Nomination of Non-Independent Directors" released by Gree Electric on the evening of January 24, Dong Mingzhu, born in 1954, is still listed as a candidate for non-independent directors of the 12th board of directors of Gree Electric.
In this regard, there is little doubt that Dong Mingzhu will be the chairman of Gree Electric again.
This means that Dong Mingzhu, who is 68 years old this year, will be 71 years old after serving the next three-year board of directors.
Judging from the new board members nominated by Gree Electric, the personnel have not changed much, but new faces have been added.
Among the candidates for non-independent directors, Dong Mingzhu, Zhang Wei, Zhang Jundu and Guo Shuzhan are all current board members and are nominated for re-election.
Deng Xiaobo is a new nominee. He joined Gree Electric Appliances in November 2020 as the company's vice president and board secretary. Before that, he was the chairman of Shaanxi Coal Industry Chemical Group Finance Co., Ltd.
The chairman of a company "jumps" to another company as a vice president also attracts the attention of the industry.
In terms of independent directors, in addition to the current independent directors Liu Shuwei, Wang Xiaohua and Xing Ziwen, Gree Electric also plans to add an independent director.
The newly nominated independent director candidate Zhang Qiusheng is currently a professor at the School of Economics and Management of Beijing Jiaotong University, the dean of the National Transportation Development Research Institute, and the director of the Chinese Enterprise Mergers and Restructuring Research Center. director.
Due to the increase of one non-independent director and one independent director, the new board of directors of Gree Electric will also increase from the original seven to nine.
According to a reporter from Beiqing Daily, the dividend distribution plan of Gree Electric Appliances needs to be reviewed and approved by the shareholders' meeting before it can be implemented.
Just yesterday evening, Gree Electric again issued an announcement saying that the company's board of directors received a letter from its shareholder, Zhuhai Gree Group, proposing to submit the dividend distribution plan as a temporary proposal to the general meeting of shareholders to be held at the end of this month for consideration.
Text / reporter Zhang Qin