Huazhu Group Limited Announces Cash Dividend
January 03 2020 - 1:00AM
Huazhu Group Limited (Nasdaq: HTHT) (the "Company"), a leading and
fast-growing hotel group, today announced that its board of
directors has declared a cash dividend of US$0.34 per ordinary
share, or US$0.34 per American Depositary Share ("ADS”). Holders of
the Company's ordinary shares or ADS at the close of trading on
January 10, 2020 (U.S. Eastern Time) (the "Record Date") will be
entitled to receive the cash dividend. Citibank, N.A., depositary
bank for the Company's ADS program (the "ADS Depositary"), expects
to pay out dividends to ADS holders before February 29, 2020.
Dividends to be paid to the Company’s ADS holders through the ADS
Depositary will be subject to the terms of the deposit agreement by
and among the Company and the ADS Depositary, and the holders and
beneficial owners of ADS issued thereunder, including the fees and
expenses payable thereunder.
The total amount of cash to be distributed for
the special dividend is expected to be approximately US$100
million.
As of September 30, 2019, the Company had
approximately US$622 million in cash, cash equivalents and
restricted cash.
About Huazhu Group Limited
Huazhu Group Limited is a leading hotel operator
and franchisor. As of September 30, 2019, Huazhu operated 5,151
hotels with 504,414 rooms in operation. Huazhu’s brands include Hi
Inn, Elan Hotel, HanTing Hotel, HanTing Premium Hotel, JI Hotel,
Starway Hotel, Orange Hotel Select, Crystal Orange Hotel, Manxin
Hotels & Resorts, Joya Hotel, and Blossom Hill Hotels &
Resorts. Huazhu also has the rights as master franchisee for
Mercure, Ibis and Ibis Styles, and co-development rights for Grand
Mercure and Novotel, in the pan-China region.
Huazhu’s business mainly includes leased,
manachised and franchised models. Under the lease model, Huazhu
directly operates hotels typically located on leased properties.
Under the manachise model, Huazhu manages manachised hotels through
the on-site hotel managers Huazhu appoints and collects fees from
franchisees. Under the franchise model, Huazhu provides training,
reservations and support services to the franchised hotels, and
collects fees from franchisees but does not appoint on-site hotel
managers. In addition, Huazhu has a limited number of hotels in
owned or partially owned properties. Huazhu applies a consistent
standard and platform across all of its hotels. As of September 30,
2019, Huazhu operates 83 percent of its hotel rooms under manachise
and franchise models.
For more information, please visit the Company’s
website: http://ir.huazhu.com.
Safe Harbor Statement Under the Private
Securities Litigation Reform Act of 1995: The information in this
release contains forward-looking statements which involve risks and
uncertainties, including statements regarding the Company’s capital
needs, business strategy and expectations. Any statements contained
herein that are not statements of historical fact may be deemed to
be forward-looking statements, which may be identified by
terminology such as “may,” “should,” “will,” “expect,” “plan,”
“intend,” “anticipate,” “believe,” “estimate,” “predict,”
“potential,” “forecast,” “project,” or “continue,” the negative of
such terms or other comparable terminology. Readers should not rely
on forward-looking statements as predictions of future events or
results. Any or all of the Company’s forward-looking statements may
turn out to be wrong. They can be affected by inaccurate
assumptions, risks and uncertainties and other factors which could
cause actual events or results to be materially different from
those expressed or implied in the forward-looking statements. In
evaluating these statements, readers should consider various
factors, including the anticipated growth strategies of the
Company, the future results of operations and financial condition
of the Company, the economic conditions of China, the regulatory
environment in China, the Company’s ability to attract customers
and leverage its brands, trends and competition in the lodging
industry, the expected growth of the lodging market in China and
other factors and risks outlined in the Company’s filings with the
Securities and Exchange Commission, including its annual report on
Form 20-F and other filings. These factors may cause the Company’s
actual results to differ materially from any forward-looking
statement. In addition, new factors emerge from time to time and it
is not possible for the Company to predict all factors that may
cause actual results to differ materially from those contained in
any forward-looking statements. Any projections in this release are
based on limited information currently available to the Company,
which is subject to change. This release also contains statements
or projections that are based upon information available to the
public, as well as other information from sources which the Company
believes to be reliable, but it is not guaranteed by the Company to
be accurate, nor does the Company purport it to be complete. The
Company disclaims any obligation to publicly update any
forward-looking statements to reflect events or circumstances after
the date of this document, except as required by applicable
law.
Contact Information Investor Relations Tel: +86 (21) 6195 9561
Email: ir@huazhu.com http://ir.huazhu.com
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