Marks the fifth consecutive year of dividend
declarations
SHANGHAI, March 14,
2023 /PRNewswire/ -- FinVolution Group
("FinVolution," or the "Company") (NYSE: FINV), a leading fintech
platform, today announced that its board of directors (the "Board")
has approved a cash dividend of US$0.215 per American Depositary Share for fiscal
year 2022, which represents a payout ratio of approximately 18.5%
of the Company's net income for fiscal year 2022. The dividend is
expected to be distributed on or around May
5, 2023 to shareholders of record as of the close of
business on April 13, 2023.
The decision to distribute dividends as well as the amount of
any such dividend payments is made at the Board's discretion, based
on the Company's operations, earnings, cash flows, financial
condition and other relevant factors.
The Company's average dividend payout ratio for fiscal
years 2018 to 2021 was approximately 15% of the Company's net
income in the same period. The Company's current annual cash
dividend policy states that the Company will declare and distribute
a recurring cash dividend at an amount of no less than 10% of the
Company's net income after tax in the previous fiscal year.
Mr. Shaofeng Gu, Chairman of the
Board and Chief Innovation Officer of the Company, commented,
"Despite a very challenging 2022, we remained committed to
returning value to our shareholders with a fifth consecutive year
of both dividend payouts and share repurchases. Our successful
transition to better-quality borrowers and stable, consistent
performance in the domestic market have empowered us to pursue
high-quality growth and explore international markets while also
sharing our profits with our shareholders."
About FinVolution Group
FinVolution Group is a leading fintech platform in China and internationally connecting
underserved borrowers with financial institutions. Established in
2007, the Company is a pioneer in China's online consumer finance industry and
has developed innovative technologies and has accumulated in-depth
experience in the core areas of credit risk assessment, fraud
detection, big data and artificial intelligence. The Company's
platform, empowered by proprietary cutting-edge technologies,
features a highly automated loan transaction process, which enables
a superior user experience. As of December, 31, 2022, the Company
had over 159.4 million cumulative registered users.
For more information, please visit: http://ir.finvgroup.com.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in 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," "target,"
"confident" and similar statements. Such statements are based upon
management's current expectations and current market and operating
conditions and relate to events that involve known or unknown
risks, uncertainties and other factors, all of which are difficult
to predict and many of which are beyond the Company's control.
Forward-looking statements involve risks, uncertainties and other
factors that could cause actual results to differ materially from
those contained in any such statements. Potential risks and
uncertainties include, but are not limited to, uncertainties as to
the Company's ability to attract and retain borrowers and investors
on its marketplace, its ability to increase the volume of loans
facilitated through the Company's marketplace, its ability to
introduce new loan products and platform enhancements, its ability
to compete effectively, laws, regulations and governmental policies
relating to the online consumer finance industry in China, general economic conditions in
China, and the Company's ability
to meet the standards necessary to maintain the listing of its ADSs
on the NYSE, including its ability to cure any non-compliance with
the NYSE's continued listing criteria. Further information
regarding these and other risks, uncertainties or factors is
included in the Company's filings with the U.S. Securities and
Exchange Commission. All information provided in this press release
is as of the date of this press release, and FinVolution does not
undertake any obligation to update any forward-looking statement as
a result of new information, future events or otherwise, except as
required under applicable law.
For investor and media inquiries, please contact:
In China:
FinVolution Group
Head of Investor Relations
Jimmy Tan
Tel: +86 (21) 8030 3200 Ext. 8601
Email: ir@xinye.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
Email: finv@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: finv@tpg-ir.com
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SOURCE FinVolution Group