Anton Oilfield Services (03337) Board Approves Latest Stock Dividend and Repurchase Policy

Zhitong Finance App News, Anton Oilfield Service (03337) announced that the company attaches great importance to the interests of all shareholders. In order to better combine the interests of all shareholders with the company's sustainable development, so that all shareholders can share the company's growth well and obtain reasonable return on investment, the company's board of directors has further reviewed, discussed and approved the company's latest stock dividend and repurchase policies.

The company can pay cash dividends when the net profit attributable to equity holders and the cumulative undistributed profit realized during the year are positive, and the company's cash flow can satisfy the normal operation and sustainable development of the company. The cash dividend ratio refers to 30% of the net profit attributable to equity holders realized in the current year.

When management believes that the company's stock price seriously deviates from the essence of the company's business, a repurchase operation can be carried out to stabilize the stock price/increase the market value. The company's annual repurchase plan and execution amount depend on the free cash flow of the previous fiscal year. The repurchase should be executed using the company's own cash reserves, and the repurchase should not increase the company's liabilities. The company can select 5% to 10% of the free cash flow of the previous fiscal year for share repurchase operations. The total number of shares repurchased shall not be higher than 10% of the issued share capital approved by the annual shareholders' meeting.

According to the announcement, the Group's good cash flow performance is the basis for the specific implementation of the above two stock dividend and repurchase policies. Whether the two policies will be implemented simultaneously in the same year will mainly depend on how the Group achieves free cash flow and related capital reserves.