Kaisa plans $281m interim payout

Kaisa Group (1638) intends to pay an interim dividend of 4 HK cents per share from its share premium account, with a total amount of HK$281 million.

The company said the interim dividend will be paid by way of the cancellation of about 233 million yuan (HK$281 million) standing at the credit of the share premium account.

After the payment of the interim dividend, about 6.225 billion yuan will remain standing at the credit of the account.

Taking into account the cash flow and the financial conditions, the company said that paying the interim dividend is appropriate to recognise shareholders' continuous support, and it also believed that it is unnecessary to maintain the share premium account at its current level.

It will hold an extraordinary general meeting on October 27 to discuss and if appropriate, to approve the payment.