BEIJING, July 23, 2018 /PRNewswire/ -- Hexindai Inc.
(NASDAQ: HX) ("Hexindai" or the "Company"), a fast-growing consumer
lending marketplace in China,
announced today that the board of directors of Hexindai has
declared a cash dividend of $0.40 per
ordinary share, which is equivalent to US$0.40 per American Depositary Share ("ADS"),
each of which represents one ordinary share. Holders of the
Company's ordinary shares, including ordinary shares represented by
ADSs, at 5:00 pm on August 2, 2018 (U.S. Eastern Time) will be
entitled to receive the cash dividend. The cash dividend will
consist of an annual dividend pursuant to the newly adopted annual
dividend policy of US$0.27 per
ordinary share (or US$0.27 per ADS),
and a special cash dividend of US$0.13 per ordinary share (or US$0.13 per ADS).
On July 19, 2018, the board of
directors approved an annual dividend policy. Under this policy,
annual dividends will be set at an amount equivalent to
approximately 15-25% of our anticipated net income after tax in
each year commencing from fiscal year 2018. On July 19, 2018, the board of directors also
approved a special cash dividend of US$0.13 per ordinary share (or US$0.13 per ADS). The declaration of future cash
dividends, pursuant to the Company's dividend policy, is subject to
final discretion of the board of directors and is based on a number
of factors, including but not limited to, the Company's future
operations and earnings, capital requirements and surplus, general
financial condition, contractual restrictions and other factors
that the board of directors may deem relevant. Accordingly,
there can be no assurance that dividends in the future will be
equal or similar in amount to the amounts described in this press
release or that the board of directors will not decide to suspend
or discontinue, altogether, the payment of cash dividends in the
future.
Citibank, N.A., the depositary bank for the Company's ADS
program (the "ADS Depositary"), expects to pay out dividends to ADS
holders on or around August 10, 2018.
Dividends to be paid to the Company's ADS holders through the ADS
Depositary will be subject to the terms of the deposit agreement by
and among the Company, the ADS Depositary and the holders and
beneficial owners of ADSs issued thereunder, including the fees and
expenses payable thereunder.
About Hexindai Inc.
Hexindai Inc. (NASDAQ: HX) ("Hexindai" or the "Company") is a
fast-growing consumer lending marketplace based in Beijing, China facilitating loans to meet the
increasing consumption demand of the emerging middle class in
China. Hexindai provides borrowers
with convenient and ready access to credit through its online
marketplace. The Company offers borrowers a wide range of products
designed based on customer segmentation data and tailored to the
specific needs of the emerging middle class in China by matching them with investors seeking
various types of investment products with appropriate risk levels
and risk-adjusted returns. Hexindai's strong online and offline
user acquisition capabilities combined with an online platform with
extensive offline networks, an advanced risk management system, and
strong strategic cooperative relationships with a custodian bank
and an insurance company to safeguard investments, allows the
Company to generate higher customer satisfaction, reliance, and
realize faster growth in China.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements are made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These statements can be identified by terminology such
as "will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "potential," "continue," "ongoing,"
"targets," "guidance" and similar statements. The Company may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the "SEC"),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Any statements that are
not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements that
involve factors, risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Such factors and risks include, but not limited to the
following: the Company's goals and strategies; its future business
development, financial condition and results of operations; the
expected growth of the credit industry, and marketplace lending in
particular, in China; the demand
for and market acceptance of its marketplace's products and
services; its ability to attract and retain borrowers and investors
on its marketplace; its relationships with its strategic
cooperation partners; competition in its industry; and relevant
government policies and regulations relating to the corporate
structure, business and industry. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the SEC. All information provided in this
announcement is current as of the date of this announcement, and
the Company does not undertake any obligation to update such
information, except as required under applicable law.
For more information, please visit
ir.hexindai.com
For investor inquiries, please contact:
Hexindai
Ms. Daisy Wang
Tel: +86-10-5380-6196
Email: ir@hexindai.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10- 5900-1548
E-mail: carnell@christensenir.com
In US
Mr. Tip Fleming
Phone: +1-917-412-3333
Email: tfleming@Christensenir.com
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SOURCE Hexindai Inc.