2 July 1998: Shareholders of Shanghai Yaohua Pilkington Glass Co. in China have approved a plan to issue a pre-tax dividend of 0.05 yuan (US$ 0.006) per share based on 1997 net profits, a company stat…
2 July 1998: Shareholders of Shanghai Yaohua Pilkington Glass Co. in China have approved a plan to issue a pre-tax dividend of 0.05 yuan (US$ 0.006) per share based on 1997 net profits, a company statement said recently. Details of the issue, including an ex-dividend day, would be announced later, said the statement published in the Shanghai Securities News. Yaohua, a Sino-British joint venture glass producer based in Shanghai, has both hard currency B shares and domestic A shares listed on the Shanghai stock exchange. The company in April reported net profits of 38.631 million yuan in 1997, a plunge of 51.95% against 80.390 million yuan in 1996 based on international accounting standards. It attributed the fall to strong market competition.