When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
LU - Investors Unimpressed By Massive Dividend From Shrinking Lufax
Lufax Holding Ltd American Depositary Shares two of which representing one
2024-03-25 13:10:00 ET
Summary
Lufax announced a massive special dividend of $2.42 per ADS, equal to about half of its Friday closing price of $4.48.
The company slashed the size of its loan portfolio by 45% last year, and expects to reduce it by another 32% this year as it focuses on higher-quality borrowers.
The company is also rapidly shrinking its geographical reach to focus on the most profitable markets.
The online lender’s American depositary shares rose by just $1.11 in the two days after it announced a special dividend of $2.42 per ADS. ...