JOYY Inc. Announces Additional Quarterly Cash Dividend
GUANGZHOU, China, Nov. 20, 2020 (GLOBE NEWSWIRE) -- JOYY Inc. (Nasdaq: YY) (“JOYY” or the “Company”), a global video-based social media platform, today announced that, in order to further
demonstrate the Company’s solid cash balance and the ability to consistently generate strong cash flow, in addition to the quarterly dividend policy previously approved by the Company’s board of
directors in August 2020, the Company’s board of directors approved an additional quarterly dividend policy for the next three years commencing immediately. Under such policy, the total cash
dividend amount expected to be paid will be approximately US$200.0 million and quarterly dividend will be set at a fixed amount of approximately US$16.67 million in each fiscal quarter. The board
of directors has accordingly declared a dividend of US$0.20 per ADS, or US$0.0100 per common share, which is expected to be paid on December 23, 2020 to shareholders of record as of the close of
business on December 11, 2020. The ex-dividend date will be December 10, 2020. Under the policy, the board of directors of the Company reserves the discretion relating to the determination to make
dividend distributions and the amount of such distributions in any particular quarter, depending on the Company’s operations and earnings, cash flow, financial condition and other relevant
Aggregating such quarterly cash dividend under this newly adopted quarterly dividend policy with the quarterly cash dividend announced on November 16, 2020, the Company’s board of directors has declared a cash dividend in the aggregate amount of US$0.51 per ADS, or US$0.0255 per common share, for the third quarter of 2020. The aggregate amount of cash dividends to be paid on December 23, 2020 to shareholders of record as of the close of business on December 11, 2020 is approximately US$41.67 million, which will be funded by surplus cash on the Company’s balance sheet.
About JOYY Inc.
JOYY Inc. is a global social media platform. The Company’s highly engaged users contribute to a vibrant social community by creating, sharing, and enjoying a vast range of entertainment content and activities. JOYY enables users to interact with each other in real time through online live media and offers users a uniquely engaging and immersive entertainment experience. JOYY owns BIGO, a fast-growing global tech company headquartered in Singapore. BIGO owns several popular video based social platforms including BIGO live, a leading global live streaming platform outside China; Likee, a leading global short-form video social platform; and video communication service and others. JOYY has created an online community for global video and live streaming users. JOYY Inc. was listed on the NASDAQ in November 2012.