H World Group announces shareholder return plan, cash dividend, repurchase plan

H World Group has approved a three-year shareholder return plan with an aggregate amount of distributions that may be made to the company’s shareholders of up to $2B, effective from July 23. Under the Shareholder Return Plan, the Board has the sole discretion to: (i) declare and distribute ordinary dividends semi-annually, the aggregate amount of which for each financial year shall be no less than 60% of the company’s net income in such financial year, and (ii) declare and distribute, from time to time, special dividends and/or make repurchases of ADS pursuant to the Share Repurchase Program. The company has also amended and replaced its existing ordinary dividend policy with the Amended Dividend Policy. On the same date, the Board declared a cash dividend for the first half of 2024 in the aggregate amount of approximately $200M, of 6.3c per ordinary share, or 63c per ADS. Holders of the company’s ordinary shares or ADSs on August 14 will be entitled to receive the Cash Dividend. Dividends are expected to be distributed on or about August 27. Payout to ADS holders is expected on or about September 3. Additionally, the Board approved a five-year share repurchase program of its ADSs with an aggregate amount of up to $1B, effective from August 21, 2024. The Share Repurchase Program replaced the previous share repurchase adopted on August 21, 2019 with an aggregate amount of up to $750M.