SHANGHAI, Aug. 6, 2024
/PRNewswire/ -- Noah Holdings Limited ("Noah" or the "Company")
(NYSE: NOAH and HKEX: 6686), a leading and pioneer wealth
management service provider offering comprehensive one-stop
advisory services on global investment and asset allocation
primarily for Mandarin-speaking high-net-worth investors, rewarded
shareholders with a record RMB1,018
million (approximately USD 140.1
million) dividend payout under its new capital management
and shareholder return policy.
The dividend payout was processed on July
25 for registered holders of the Company's shares in
Hong Kong and August 1 for registered holders of the Company's
shares in the U.S.
"We are a company with a strong balance sheet that is often
underestimated," said Ms. Jingbo
Wang, co-founder and chairwoman of Noah, commented. "Our new
shareholder return and this substantial payout reflect our
unwavering commitment to prioritizing shareholder interests and
delivering sustained returns. This demonstrates our strong balance
sheet, robust liquidity position, and confidence in our long-term
growth prospects as we drive our global expansion. Shareholder
return for 2023 totaled over RMB 1
billion, equivalent to 100% of our annual non-GAAP net
income, and providing an attractive cash yield."
"We are committed to continuing this shareholder-friendly
approach and are planning to distribute dividends annually in the
future. This commitment makes us an attractive option for investors
seeking both growth potential and consistent returns in the wealth
management sector."
Full Year 2023 Payment of Final and Special Dividend
The Company distributed both a final dividend and a special
dividend, each amounting to RMB 509.0
million (approximately US$70.0
million). This translates to a distribution ratio of
RMB 1.54 (approximately US$0.21 or HK$1.65)
per share for each dividend, tax inclusive.
New Capital Management and Shareholder Return Policy
In November 2023, Noah's Board of
Directors adopted a new capital management and shareholder return
policy (the "Policy") where up to 50% the Company's non-GAAP net
income attributable to shareholders of the preceding financial year
will be allocated to a Corporate Actions Budget which will serve
various purposes, including dividend distribution and share
repurchases.
Under the Policy, no less than 35% of the Company's non-GAAP net
income attributable to shareholders of the preceding financial year
will be allocated toward dividends to be distributed in each
calendar year, subject to various factors.
Strategic Implications
Noah Holdings is committed to its annual dividend distribution,
solidifying its reputation as a trusted leader in global
wealth management for Mandarin-speaking high-net-worth
investors globally. The company's ongoing commitment to
regular dividends underscores its dedication
to maintaining the trust of its clients and reflects
its unwavering focus on long-term value creation.
ABOUT NOAH HOLDINGS LIMITED
Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading
and pioneer wealth management service provider offering
comprehensive one-stop advisory services on global investment and
asset allocation primarily for Mandarin-speaking high-net-worth
investors. In 2024 Q1, Noah distributed RMB18.9 billion (US$2.6
billion) of investment products. Through Gopher Asset
Management, Noah had assets under management of RMB153.3 billion (US$21.2
billion) as of March 31,
2024.
Noah's wealth management business primarily distributes private
equity, private secondary, mutual funds, and other products
denominated in RMB and other currencies. Noah's network covers
major cities in mainland China, as
well as Hong Kong (China), New
York, Silicon Valley, Singapore, and Los
Angeles. A total number of 1,109 relationship managers
across 18 cities provide customized financial solutions for clients
through this network and meet their investment needs. The Company's
wealth management business had 457,705 registered clients as of
March 31, 2024. Through Gopher Asset
Management, Noah manages private equity, public securities, real
estate, multi-strategy, and other investments denominated in
Renminbi and other currencies. Noah also provides other
services.
For more information, please visit Noah at
ir.noahgroup.com.
SAFE HARBOR STATEMENT
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. Noah
may also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission, in
its annual reports to shareholders, in announcements, circulars or
other publications made on the website of The Stock Exchange of
Hong Kong Limited (the "Hong Kong Stock Exchange"), in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about Noah's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. These statements include, but are not limited to,
estimates regarding the sufficiency of Noah's cash and cash
equivalents and liquidity risk. A number of factors could cause
Noah's actual results to differ materially from those contained in
any forward-looking statement, including but not limited to the
following: its goals and strategies; its future business
development, financial condition and results of operations; the
expected growth of the wealth management and asset management
market in China and
internationally; its expectations regarding demand for and market
acceptance of the products it distributes; investment risks
associated with investment products distributed to Noah's
investors, including the risk of default by counterparties or loss
of value due to market or business conditions or misconduct by
counterparties; its expectations regarding keeping and
strengthening its relationships with key clients; relevant
government policies and regulations relating to its industries; its
ability to attract and retain qualified employees; its ability to
stay abreast of market trends and technological advances; its plans
to invest in research and development to enhance its product
choices and service offerings; competition in its industries in
China and internationally; general
economic and business conditions globally and in China; and its ability to effectively protect
its intellectual property rights and not to infringe on the
intellectual property rights of others. Further information
regarding these and other risks is included in Noah's filings with
the U.S. Securities and Exchange Commission and the Hong Kong Stock
Exchange. All information provided in this press release and in the
attachments is as of the date of this press release, and Noah does
not undertake any obligation to update any such information,
including forward-looking statements, as a result of new
information, future events or otherwise, except as required under
the applicable law.
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SOURCE Noah Holdings Limited