(Hong Kong, 24 May 2018) — China Zhongwang Holdings Limited (“China Zhongwang” or the “Company”, together with its subsidiaries the “Group”, stock code: 01333), a world-leading fabricated aluminium product developer and manufacturer, is pleased to announce that it has been selected by Hang Seng Indexes Company Limited (“Hang Seng Indexes”) as a constituent stock of the Hang Seng High Dividend Yield Index (“the Index”), effective from 4 June 2018.
China Zhongwang has maintained the dividend payout ratio at a high level of approximately 40% over the past five years, signifying the board of directors’ commitment to good corporate governance, as well as its emphasis on creating value for and rewarding shareholders.
Mr. Lu Changqing, Chairman and President of China Zhongwang, said, “It is a great honour to be selected as one of the constituent stocks of the Index. We believe this is a recognition of China Zhongwang’s stable dividend policy by the capital market, which helps to further enhance the investors’ confidence in the Group. Adhereing to the principle of generating positive returns for shareholders, we will continue to accelerate our business development for better returns to our shareholders.”
“Hang Seng High Dividend Yield Index” was launched by the Hang Seng Indexes in 2012 and is a thematic index of the Hong Kong market in the Hang Seng Indexes. It comprises the top 50 stocks and real estate investment trusts listed on the Stock Exchange of Hong Kong with the highest net dividend yield, aiming to reflect the overall performance of high yield securites listed in Hong Kong. The Index undergoes annual reviews. Securities from the eligible list should have a cash dividend paid record of at least three consecutive fiscal years. The constituent stocks of the Index cover industries including finance, telecommunications, information technology, property and construction, raw materials, consumer goods manufacturing, and public utilities.