Stock abbreviation: Cosco Shipping Development Company Limited(601866) Stock Code: Cosco Shipping Development Company Limited(601866) Announcement No.: pro 2022019 Cosco Shipping Development Company Limited(601866)
Announcement on the profit distribution plan for the year 2021
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents. Important content: distribution ratio: cash dividend of 2.26 yuan (including tax) for every 10 shares. The profit distribution is based on the total share capital registered on the equity distribution registration date minus the number of shares in the company's special repurchase account. The specific date will be specified in the equity distribution implementation announcement.
1、 Contents of profit distribution plan
Cosco Shipping Development Company Limited(601866) (hereinafter referred to as "the company") realized a net profit of 609068204565 yuan attributable to shareholders and other equity holders of the listed company in the consolidated statements of 2021; In 2021, the parent company realized a net profit of 333902207755 yuan, accrued a statutory surplus reserve of 33390220776 yuan, plus the beginning balance of undistributed profits of 152311968443 yuan, minus the profit distribution of 64559590476 yuan in 2020 and the interest on perpetual bonds of 27322365800 yuan in 2021, and the distributable profit of the parent company at the end of 2021 was 360941999146 yuan. According to the resolution of the board of directors, the company plans to distribute profits in 2021 based on the total share capital registered on the equity distribution registration date minus the number of shares in the company's special repurchase account.
The profit distribution plan is as follows:
1. The listed company plans to distribute a cash dividend of 2.26 yuan (including tax) to all shareholders for every 10 shares. As of December 31, 2021, the total share capital of the company is 13586477301 shares and 79627003 shares have been repurchased. Based on 13506850298 shares deducted from the total share capital of the company, a total cash dividend of 305254816735 yuan (including tax) is proposed to be distributed.
If there is any change in the total share capital of the company that can participate in equity distribution due to share repurchase, stock option exercise, etc. from the date of disclosure of this announcement to the date of equity distribution registration, the company will adjust the total distribution amount accordingly in accordance with the principle of unchanged distribution amount per share.
2. The listed company holds its own shares through the special account for repurchase and does not participate in this profit distribution.
The company's cash dividends in this year accounted for 50.12% of the company's net profit attributable to shareholders and other equity holders of Listed Companies in 2021.
The profit distribution plan needs to be submitted to the general meeting of shareholders for deliberation.
2、 Decision making procedures performed by the company
(I) convening, deliberation and voting of the board meeting
The company held the 51st meeting of the 6th board of directors on March 30, 2022. After deliberation, the profit distribution plan was unanimously approved. The profit distribution plan needs to be submitted to the 2021 annual general meeting of shareholders of the company for deliberation.
(II) opinions of independent directors
According to the guidelines for the supervision of listed companies No. 3 - cash dividends of listed companies (revised in 2022) and the articles of association, the independent directors checked and reviewed the company's profit distribution plan in 2021, and issued independent opinions as follows:
The company's 2021 profit distribution plan complies with the relevant provisions of the guidelines for the supervision of listed companies No. 3 - cash dividends of listed companies (revised in 2022) and the articles of association, conforms to the actual situation of the company, is conducive to the sustainable and healthy development of the company, and does not harm the interests of the company's shareholders. It is agreed that the company's 2021 profit distribution plan should be submitted to the board of directors and the general meeting of shareholders for deliberation.
(III) opinions of the board of supervisors
The profit distribution plan of the company is put forward in combination with the actual operating performance, financial status, long-term development and other factors of the company, and considering the reasonable demands of investors. Comply with relevant laws and regulations and relevant provisions on profit distribution in the articles of association, will not affect the normal operation and long-term development of the company, and will not damage the interests of minority shareholders. Agree to submit the proposal to the general meeting of shareholders of the company for deliberation.
3、 Relevant risk tips
This profit distribution plan combines the company's development stage, future capital demand and other factors, and will not have a significant impact on the company's operating cash flow, nor will it affect the company's normal operation and long-term development.
It is hereby announced.
Cosco Shipping Development Company Limited(601866) board of directors March 30, 2022
