Announcement on Implementation of the 2008 Profit Distribution Scheme
The Industrial Bank Co., Ltd (the Company) and all members of the Board of Directors hereby warrant that the information contained in this announcement is true, accurate and complete, and assume joint and several liabilities for any false representation, misleading statement or material omission.
Important Information:
Cash dividend of RMB4.5 (tax included) is paid-out for every 10 shares.
Cash dividend per share pre tax is RMB0.45. Cash dividend per share after tax is RMB 0.405.
Equity Registration Date: June 10, 2009 (Wednesday)
Ex-dividend Date: June 11, 2009 (Thursday)
Payment Date for Cash Dividends: June 17, 2009 (Wednesday)
The Profit Distribution Scheme of Industrial Bank Co., Ltd. for the Year 2008 has been deliberated and approved by the 2008 General Shareholders' Meeting that was held on May 18, 2009. The announcement concerning resolutions adopted during the General Shareholders' Meeting was published on the website of the Shanghai Stock Exchange and in China Securities News, Shanghai Securities News, Securities Times and Securities Daily on May 19, 2009.
The specific implementation of profit distribution is now announced as follows:
I. Profit Distribution Scheme for the Year 2008
Taking the 5 billion shares of the Company as the base, a cash dividend of RMB4.50 (tax included) will be paid-out for every 10 shares, and the total amount of cash dividends is RMB2.250 billion.
II. Equity Registration Date, Ex-dividend Date and Payment Date for Cash Dividends
1. Equity Registration Date: June 10, 2009
2. Ex-dividend Date: June 11, 2009
3. Payment Date for Cash Dividends: June 17, 2009
III. Objects of Dividend Distribution
All shareholders of the Industrial Bank Co., Ltd. registered with the Shanghai Branch of the China Securities Depository and Clearing Corporation Limited aftert the closing of the Shanghai Stock Exchange on the afternoon of June 10, 2009.
IV. Measures for the Implementation of Dividend Distribution
1. In accordance with the Notice on the Policies Relating to the Individual Income Tax on Dividends and Bonuses (Cai Shui [2005] No. 102) issued by the Ministry of Finance and the State Administration of Taxation, the Company is to withhold individual income tax at the rate of 10% for individual shareholders holding the Company’s shares; the actual cash dividend to be distributed after tax f pear share is RMB0.405.
2. In regard to qualified foreign institutional investors (QFII), in accordance with the Enterprise Income Tax Law of the People’s Republic of China and the Implementation Regulations of the Enterprise Income Tax Law of the People’s Republic of China enacted in 2008, the Shanghai Branch of the China Securities Depository and Clearing Corporation Limited is authorized by the Company to distribute to said investors the sum due following the deduction of enterprise income tax at the rate of 10% , that is, the cash dividend per share to be distributed is RMB0.405.
If the shareholders in this category can provide the following relevant legal documents within 10 working days of the publication of this announcement: (1) receipts of paying enterprise income tax to China’s tax authorities as resident enterprises; (2) the declaration of enterprise income tax payment submitted to China’s tax authorities as resident enterprises; (3) the documentary evidence that can prove that cash dividends received should be rightfully acquired by the organization, institution or location established by the shareholders of this category in the People's Republic of China, though not a resident enterprise. After the Company has confirmed that the relevant shareholders are classed as resident enterprises, said 10% enterprise income tax will not be withheld, and the Company will reissue the corresponding cash dividend of RMB0.045 per share for relevant shareholders. If the shareholders in this category are unable to provide such documentary evidence within the specified time, the Company will withhold the income tax of QFII shareholders’ cash dividends at the tax rate of 10%.
3. Excluding QFII, other legal person shareholders and other institutional investors are required to pay the income tax themselves, and the actual cash dividend to be distributed is RMB0.45 (tax included) per share.
4. Except for the shareholders specified as follows, the Shanghai Branch of the China Securities Depository and Clearing Corporation Limited is authorized by the Company to distribute cash dividends through its capital clearing system to the shareholders of the Company who are registered on the Equity Registration Date and who have conducted the designated transactions at membership units under Shanghai Stock Exchange. Those shareholders that have completed all designated transactions can withdraw cash dividends at the designated securities exchange on the date of payment for the dividends; for those shareholders that have not completed the designated transactions, the dividends will be temporarily kept under the custody of the Shanghai Branch of the China Securities Depository and Clearing Corporation Limited, and will be distributed after the designated transactions have been completed.
For such shareholders as the Finance Bureau of Fujian Province, Hang Seng Bank Limited, Tetrad Ventures Pte Ltd, International Finance Corporation, Fujian Xingyin Property Management Co., Ltd, the cash dividends will be distributed directly by the Company.
V. Enquiries
Enquiries: Office of the Board of Directors of the Industrial Bank
Address: Room 1017, A# Zhongshan Building, No. 154, Hudong Road, Fuzhou.
Tel: 86-591-87857530
Tax: 86-591-87842633
VI. Documents for Reference
Resolutions of the 2008 General shareholders’ Meeting of Industrial Bank Co., Ltd
Board of Directors
Industrial Bank Co., Ltd.
June 5, 2009