Tencent announces special dividendBusiness | 13 Dec 2018 2:08 pm
Tencent Holdings (0700) has declared a special dividend of approximately HK$250 million to its shareholders, after its spinoff Tencent Music went public in New York.
Tencent Music was listed at a final offer price of US$13.00 (HK$101.74) per American Depositary Share.
A qualifying shareholder holding a whole multiple of 3,900 shares on the record rate will be entitled to a distribution of one ADS for every whole multiple of 3,900 Shares held.
Fractional ADSs will not be distributed. A qualifying shareholder who holds shares in excess of a whole multiple of 3,900 shares will be entitled to a cash distribution of HK$13 for every whole multiple of 500 shares held in excess of the largest multiple of 3,900 shares.
Qualifying shareholders with less than 3,900 Shares and non-qualifying shareholders will receive cash in lieu of the ADSs on the basis that for every 1,500 shares be entitled to a cash distribution of HK$39, and for every additional whole multiple of 500 shares to receive an additional cash distribution of HK$13.