Autohome declares cash dividend of $1.15 per ADS, amends dividend policy

Autohome announced that the company’s board of directors had approved a cash dividend of $1.15 per ADS (or 28.75c per ordinary share payable in U.S. dollars to holders of ADSs and ordinary shares of record as of the close of business on December 29, 2023, New York Time and Beijing/Hong Kong Time, respectively. The aggregate amount of the Dividend will be approximately RMB1B. The Dividend is expected to be paid to holders of ordinary shares and ADSs on or around March 27, 2024. In light of Autohome’s strong cash balance and healthy cash flow, the Board also approved an amendment to its dividend policy, pursuant to which the Board intends to declare a cash dividend semi-annually from 2024 to 2026. The total yearly cash dividend is expected to be no less than RMB1.5B with the exact amount to be determined by the Board based on the company’s then financial performance, cash position, and applicable foreign exchange laws and regulations in China, among other factors.