(RTTNews) – Chinese language digital freight platform Full Truck Alliance Co. Ltd. (YMM), whereas reporting weak revenue for the fourth quarter, issued first-quarter outlook, anticipating income progress. The Board of administrators additional accredited dividend, and prolonged share buyback program.
In pre-market exercise on the NYSE, Full Truck Alliance shares had been gaining round 2 p.c to commerce at $11.90.
For the primary quarter, the corporate expects its whole internet revenues to be between RMB2.63 billion and RMB2.68 billion, representing a year-over-year progress charge of round 15.9% to 18.1%.
Additional, the corporate’s board of administrators has accredited a semi-annual money dividend coverage, pursuant to which the Board intends to declare and distribute a money dividend semi-annually ranging from 2025. The full money dividend for 2025 is predicted to be roughly $200 million.
The Board has additionally accredited a semi-annual money dividend of $0.0048 per peculiar share, or $0.0960 per American depositary share, payable on or round April 18, to holders of document of the Firm’s peculiar shares on the shut of enterprise on April 7. The combination quantity of the dividend is predicted to be roughly $100 million.
The Board resolved to increase the unique share repurchase program in March 2024, and will repurchase as much as round $300 million of its ADSs and/or peculiar shares by means of March 12, 2025.
In March 2025, the Board accredited an extra extension of the time period of the share repurchase program such that the Firm could repurchase as much as $200 million of its ADSs and/or peculiar shares by means of March 12.
The corporate expects to fund the repurchases with its present money stability.
In its fourth quarter, the corporate’s backside line totaled RMB558.46 million, or RMB0.53 per share, in contrast with RMB584.09 million, or RMB0.56 per share, final yr.
Adjusted earnings had been RMB1.035 billion or RMB0.99 per share for the interval.
The corporate’s income for the interval rose 31.9% to RMB3.174 billion from RMB2.407 billion final yr.
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