According to AE’s AoA, dividends may only be distributed in accordance with the company’s financial capability as determined by the decisions of the Annual General Meeting of Shareholders (AGMS). The company will declare dividends with respect to: 1) the operating income, cash flows, capital adequacy and the financial condition of the company and its subsidiaries for reaching optimum growth in the future; 2) the required fulfillment of reserve funds; 3) the company and its subsidiaries’ obligations based on agreements with third parties (including creditors); 4) the compliance with the prevailing laws and regulations, and the AGMS approvals.
The management holds on to the commitment to pay back the shareholders by way of cash dividends every year. To date, AE has paid a total dividend of US$1.4 billion, with dividend payout ratio of around 40%.
The 2019 AGMS approved a total dividend payment of US$200 million, equivalent to 48% of the 2018 fiscal year’s net profit of US$418 million.
In the 2019 AGMS, the shareholders approved a total dividend payment of US$250 million, equivalent to 62% of the 2019 fiscal year’s net profit, consisting of the interim cash dividends of US$150 million paid on January 15, 2020 and US$100 million to be distributed as final cash dividends.
Dividend Distributions Since IPO
|2008||USD 79,784,047||USD 35,523,233||USD 0.00111||42.54%|
|2009||USD 464,403,637||USD 102,951,487||USD 0.00322||21.24%|
|2010||USD 245,365,981||USD 113,368,439||USD 0.00354||43.98%|
|2011||USD 552,102,976||USD 259,086,293||USD 0.00810||47.08%|
|2012||USD 385,347,573||USD 117,068,621||USD 0.00366||30.38%|
|2013||USD 231,230,611||USD 75,167,011||USD 0.00235||32.51%|
|2014||USD 178,161,857||USD 75,486,870||USD 0.00236||42.37%|
|2015||USD 152,440,533||USD 75,486,870||USD 0.00236||49.52%|
|2016||USD 334,623,054||USD101,075,640||USD 0.00316||30.21%|
|2017||USD 483,297,251||USD 250,130,223||USD 0.00782||51.75%|
|2018||USD 417,720,357||USD 200,232,122||USD 0.00626||47.93%|
|2019||USD 404.191.605||USD 250.130.223||USD 0,00782||61.88%|