LU - What's Going On With Lufax Stock? | Benzinga
Lufax Holding Ltd (NYSE:LU) shares are trading higher Thursday after the company announced its unaudited fourth-quarter financial results before the market open.
The Details:
The company reported quarterly total income of RMB6,857 million (US$966 million) compared to RMB12,318 million in the same period of 2022, representing a decrease of 44.3%.
Lufax also announced the recommendation of a special dividend in the amount of US$1.21 per ordinary share or US$2.42 per ADS, subject to the approval of shareholders at the annual general meeting to be held on May 30.
"Complex macro conditions continued to impact SBOs during the fourth quarter. Against this backdrop, we prioritized asset quality over quantity and successfully completed our five major de-risking and diversification initiatives, including four “mix” ...