Dividend declaration for the fourth consecutive year
SHANGHAI, March 14, 2022 /PRNewswire/ — FinVolution Group (“FinVolution” or the “Company”) (NYSE: FINV), a leading fintech platform, today announced that its Board of Directors (the “Board”) has approved the declaration of a cash dividend of $0.205 per American Depositary Share, which represents a payout ratio of approximately 15% of the Company’s net income for fiscal 2021 and is expected to be paid out on or about May 6, 2022 to shareholders of record at the close of business on April 13, 2022.
The decision to distribute dividends and the amount of such dividends are made at the discretion of the Board of Directors based on the Company’s operations, earnings, cash flow, financial condition and other relevant factors.
The historical trend of the Company’s average dividend payout ratio for fiscal years 2018 to 2021 was approximately 15% of the Company’s net income over the same period. Going forward, the Board of Directors of the Company has approved an annual cash dividend policy, pursuant to which the Company will declare and distribute a recurring cash dividend in the amount of at least 10% of net profit. of the Company after tax for the previous financial year.
Sir. Shaofeng GuChairman of FinVolution Group, said: “In line with our commitment to return value to our shareholders, we are delighted to distribute dividends for the fourth consecutive year. Our confidence in our core capabilities, our operational dynamism and the strength of our business both in China and abroad reinforces our belief in delivering sustainable, quality growth while sharing profits with our shareholders.”
About FinVolution Group
FinVolution Group is a leading fintech platform in China and connecting underserved borrowers internationally with financial institutions. Founded in 2007, the Company is a pioneer in China the online consumer credit industry and has developed innovative technologies and accumulated in-depth experience in the key areas of credit risk assessment, fraud detection, big data and artificial intelligence . The company’s platform, enhanced with proprietary advanced technologies, includes a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2021, the Company had over 140.3 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 United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the terminology such as “will”, “expect”, “anticipate”, “future”, “intend”, “plan”, “believe”, “estimate”, “target”, “confident” and similar statements. These statements are based on management’s current expectations and current market and operating conditions and relate to events that involve known and 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 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 in its market, its ability to increase the volume of loans facilitated by the the Company, its ability to introduce new lending products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer lending industry in Chinageneral 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 remedy 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 United States Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and FinVolution undertakes no obligation to update any forward-looking statement as a result of new information, future events or otherwise, unless the applicable law requires it.
For investor and media inquiries, please contact:
Head of Investor Relations
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SOURCE FinVolution Group