Prnewswireยท2024-08-06 06:14Core Viewpoint - Noah Holdings Limited has implemented a new capital management and shareholder return policy, resulting in a record dividend payout of RMB 1,018 million (approximately USD 140.1 million) to shareholders, reflecting the company's strong financial position and commitment to shareholder interests [1][2][4]. Financial Performance - The company distributed both a final dividend and a special dividend, each amounting to RMB 509.0 million (approximately USD 70.0 million), translating to a distribution ratio of RMB 1.54 (approximately USD 0.21 or HKD 1.65) per share for each dividend [3]. - Shareholder return for 2023 totaled over RMB 1 billion, equivalent to 100% of the company's annual non-GAAP net income, providing an attractive cash yield [2]. Capital Management Policy - In November 2023, Noah's Board of Directors adopted a policy allocating up to 50% of the company's non-GAAP net income attributable to shareholders for various purposes, including dividend distribution and share repurchases [4]. - The policy mandates that no less than 35% of the company's non-GAAP net income attributable to shareholders will be allocated toward dividends each calendar year [4]. Strategic Implications - Noah Holdings is committed to annual dividend distribution, enhancing its reputation as a trusted leader in global wealth management for Mandarin-speaking high-net-worth investors [5]. - The ongoing commitment to regular dividends reflects the company's dedication to maintaining client trust and long-term value creation [5]. Business Overview - Noah Holdings is a leading wealth management service provider, primarily serving Mandarin-speaking high-net-worth investors, with a distribution of RMB 18.9 billion (approximately USD 2.6 billion) of investment products in Q1 2024 [6]. - As of March 31, 2024, Noah managed assets totaling RMB 153.3 billion (approximately USD 21.2 billion) through Gopher Asset Management [6]. - The company's wealth management business includes private equity, mutual funds, and other products, supported by a network of 1,109 relationship managers across 18 cities [7].