China Evergrande Shares Jump on Plans for Special Dividend
- Company may issue dividend to regain investor confidence
- Billionaire founder Hui Ka Yan may benefit most from payout
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China Evergrande Group shares soared after the country’s most-indebted developer said it will consider a special dividend to shore up its stock that’s trading near a four-year low.
The board will hold a meeting on July 27 to “discuss the special dividend plan of the company,” it said in a statement to the Hong Kong stock exchange late Thursday. The Shenzhen-based property giant last issued such a payout in 2018.