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. ...
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Investors Unimpressed By Massive Dividend From Shrinking Lufax