Dividend Declaration
July 10 2003 - 2:02AM
UK Regulatory
RNS Number:3847N
Zhejiang Southeast Elec Power Co Ld
10 July 2003
Zhejiang Southeast Electric Power Company Limited
Announcement on Distribution of Dividends for 2002
Zhejiang Southeast Electric Power Company Limited (the "Company") and all the
members of the Board of Directors of the Company warrant the authenticity,
accuracy and completeness of the contents of this announcement and shall be
jointly liable for any false representations, misleading statements or material
omissions contained herein.
Important matters:
Proposal for distribution: cash dividend per share is RMB 0.248 yuan (tax
inclusive). Dividends of B shares will be distributed after converting into US
dollars, i.e. US$ 0.029961 per B share.
Last trading date of B shares: 15th July 2003
Ex-dividend date of B shares: 16th July 2003
Date for registering share ownership of B shares: 18th July 2003
Dividend distribution date of B shares: 25th July 2003
The proposal for distribution of profits of the Company for 2002 was examined
and approved at the Shareholders' General Meeting for 2002 convened on 30th June
2003. Details of the distribution of dividends are as follows:
1. Profit distribution proposal
The proposal for distribution of profits of the Company for 2002 is as follows:
taking the aggregate share capital of 2,010,000,000 shares of the Company at the
end of 2002 as the base number, a cash dividend of RMB 0.248 yuan (tax
inclusive) per share will be paid to all the shareholders, totalling RMB
498,480,000.00 yuan.
Dividends of B shares will be distributed after converting into US dollars at
the exchange rate of US$ 1 to RMB 8.2774 yuan which is the mean of the US
dollars to Renminbi exchange rate quoted by the People's Bank of China on 1st
July 2003. The actual cash dividend per share will be US$ 0.029961.
2. Specific dates for implementation of dividend distribution
Last trading date of B shares: 15th July 2003; ex-dividend date of B shares:
16th July 2003; date for registering share ownership of B shares: 18th July
2003; dividend distribution date of B shares: 25th July 2003.
3. Targets of dividend distribution
(1) All the shareholders of B shares of the Company whose names are on the
register of China Securities Clearing and Registration Company Limited Shanghai
Office after the close of trading of the Shanghai Stock Exchange on 18th July
2003.
(2) All the domestic shareholders of the Company.
4. Dividend distribution method
(1) China Securities Clearing and Registration Company Limited Shanghai Office
will be entrusted to distribute the cash dividends of shareholders of B shares
through its fund settlement system to the shareholders of B shares whose names
are on the register as at 18th July 2003.
(2) Cash dividends for the shareholders of domestic shares will be allocated
directly by the Company to their designated accounts.
5. Consultation:
Consultation office: Office of the Secretary to the Board of Directors
Telephone number: 86-571-85774566
6. Documents available for inspection
Resolutions on the profit distribution proposal examined and approved at the
Shareholders' General Meeting of the Company.
Board of Directors
Zhejiang Southeast Electric Power Company Limited
10th July 2003
This information is provided by RNS
The company news service from the London Stock Exchange
END
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