JinkoSolar Announces Cash Dividend

Rhea-AI Summary

JinkoSolar Holding Co., (NYSE: JKS), a leading solar module manufacturer, has announced a cash dividend of US$0.375 per ordinary share or US$1.50 per American Depositary Share (ADS). The dividend will be paid to shareholders of record as of August 15, 2024, with an expected payment date of August 30, 2024. The total distribution is estimated at US$79 million.

CEO Xiande Li stated that this dividend reflects the company's confidence in its business prospects and commitment to rewarding shareholders, despite ongoing challenges in the global PV market. This move demonstrates JinkoSolar's financial stability and positive outlook for the future.

Positive

• Declared cash dividend of US$1.50 per ADS
• Total dividend distribution of approximately US$79 million
• Demonstrates company's financial stability and confidence in business prospects

Negative

• Ongoing challenges in the global PV market

News Market Reaction

+0.63%

1 alert

+0.63% News Effect

On the day this news was published, JKS gained 0.63%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

SHANGRAO, China, Aug. 5, 2024 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced that its board of directors has declared a cash dividend of US$0.375 per ordinary share of US$0.00002 each of the Company (the "Ordinary Shares"), or US$1.50 per American Depositary Share (the "ADS"). Holders of the Ordinary Shares or ADSs at the close of trading on August 15, 2024 (U.S. Eastern Time) will be entitled to receive the cash dividend. Dividend to be paid to the Company's ADS holders through the depositary bank will be subject to the terms of the deposit agreement, including the fees and expenses payable thereunder. The dividend is expected to be paid on or around August 30, 2024.

The total amount of cash to be distributed for the dividend is expected to be approximately US$79 million.

Mr. Xiande Li, JinkoSolar's Chairman and Chief Executive Officer, commented, "We are pleased to announce this return of capital to shareholders. Despite the continued challenges in the global PV market, the cash dividend is a reflection of our confidence in the Company's business prospects and our commitment to reward shareholders for their continued support and ownership."

About JinkoSolar Holding Co., Ltd. 

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to utility-scale, commercial and residential customers in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.

JinkoSolar had 14 productions facilities globally, 26 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, Chile, Australia, Canada, Malaysia, the United Arab Emirates, Denmark, Indonesia, Nigeria and Saudi Arabia, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of March 31, 2024.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: ir@jinkosolar.com

Mr. Rene Vanguestaine
Christensen
Tel: +86 178 1749 0483
Email: rene.vanguestaine@christensencomms.com

In the U.S.:

Ms. Linda Bergkamp
Christensen, Scottsdale, Arizona
Tel: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com

View original content:https://www.prnewswire.com/news-releases/jinkosolar-announces-cash-dividend-302214208.html

SOURCE JinkoSolar Holding Co., Ltd.

FAQ

What is the amount of JinkoSolar's (JKS) cash dividend announced on August 5, 2024?

JinkoSolar (JKS) announced a cash dividend of US$0.375 per ordinary share or US$1.50 per American Depositary Share (ADS).

When is the record date for JinkoSolar's (JKS) dividend announced in August 2024?

The record date for JinkoSolar's (JKS) dividend is August 15, 2024, at the close of trading (U.S. Eastern Time).

What is the expected payment date for JinkoSolar's (JKS) dividend announced in August 2024?

The dividend is expected to be paid on or around August 30, 2024.

What is the total amount of JinkoSolar's (JKS) cash dividend distribution announced in August 2024?

The total amount of cash to be distributed for the dividend is expected to be approximately US$79 million.