Concord Medical Declares Special Dividend
BEIJING, July 28, 2011 /PRNewswire-Asia-FirstCall/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), the operator of the largest network of radiotherapy and diagnostic imaging centers in China, today announced that on July 26, 2011 its Board of Directors declared a special dividend of $0.06 per ordinary share (or $0.18 per American Depositary Share) on the Company's outstanding ordinary shares. The total expense for the special dividend is expected to be about US$8.5 million, based on the 142,353,532 ordinary shares that were outstanding as of July 28, 2010. Each ADS represents three ordinary shares of the Company.
The dividends are payable on September 30, 2011, to shareholders of record at the close of business on August 31, 2011. This is the Company's first dividend declared on its ordinary shares since its initial public offering on December 11, 2009. The underwriters for the IPO were Morgan Stanley, J.P. Morgan, and CICC.
Mr. Steve Sun, co-chairman and chief financial officer, said, "The Board of Directors declared this special dividend to provide shareholders with a tangible recognition of our good growth and financial performance since our initial public offering in December 2009. The Board expects to establish a long-term dividend policy, after a thorough analysis of the company's long-term strategy, plans, outlook, and anticipated cash needs."
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