China Evergrande Group, the country's most indebted property developer, said on Tuesday it would cancel a special dividend proposal, citing the current market environment, the rights of shareholders and creditors.
FILE PHOTO: An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/File Photo/File PhotoREUTERS: China Evergrande Group, the country's most indebted property developer, said on Tuesday it would cancel a special dividend proposal, citing the current market environment, the rights of shareholders and creditors.
The board of directors has decided to cancel the proposal after a thorough discussion and taking into account the long-term development of Evergrande's various businesses, Chairman Hui Kan Yan said in a filing to the Hong Kong bourse.Evergrande had earlier said it would hold a board meeting on July 27 to discuss a special dividend plan.
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