Shulou(Shulou.com)11/24 Report--

Thank CTOnews.com netizens Shenzhen pretty boy for the clue delivery! CTOnews.com, November 17, last night, Tencent Holdings announced that the board of directors decided to issue a special interim dividend of about 958121562 Meituan Class B common shares indirectly held by the company on the basis of one Meituan Class B common share for every 10 shares held by eligible shareholders.

The 958121562 Meituan Class B common shares to be allocated are equivalent to about 90.9 per cent of Meituan Class B common shares held by Tencent Holdings and about 15.5 per cent of Meituan's total issued shares on October 31, 2022. Based on the closing price of Meituan Class B ordinary shares traded on the Stock Exchange on November 15, 2022, the total market value of Meituan shares is approximately HK $159.4 billion.

CTOnews.com learned that Meituan subsequently announced on the Hong Kong Stock Exchange that Tencent currently holds about 17.0 per cent of the company's outstanding shares indirectly through a number of entities, and that it is aware that Tencent will allocate about 958121562 Meituan Class B common shares to its shareholders.

Meituan said that after the distribution is completed, Tencent shareholders who get shares in the distribution will become shareholders of the company. Meituan and Tencent will maintain a mutually beneficial and win-win business relationship, including the continuation of the existing strategic cooperation agreement.

In addition, Meituan announced that Liu Chiping has resigned as a non-executive director due to the proposed change in Tencent's shareholding in the company, with immediate effect. Liu Chiping has been a member of Meituan's board of directors since October 2017.

This is not the first time that Tencent has experienced "dividend reduction". In December last year, Tencent announced an interim dividend in the form of in-kind distribution of Class A common shares of JD.com Group Co., Ltd. After the dividend, Tencent's shareholding in JD.com will be reduced from 17% to 2.3%, and will no longer be the largest shareholder.

Related readings:

"Tencent's revenue of 140.1 billion yuan in the third quarter fell 2% compared with the same period last year, and its net profit of 39.94 billion yuan increased by 1% over the same period last year."

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