QuantaSing Announces Declaration of a Special Dividend
Rhea-AI Summary
QuantaSing Group (NASDAQ: QSG), a leading lifestyle solution provider, has announced a special dividend of US$0.067 per ordinary share (US$0.201 per ADS). The total dividend amount will be approximately US$11 million, funded from the company's surplus cash and share premium account. The dividend will be paid in U.S. dollars on or around November 7, 2024 for ordinary shareholders and November 15, 2024 for ADS holders, with a record date of October 30, 2024.
The Board of Directors will determine future distributions based on factors including the company's operations, earnings, GAAP and Non-GAAP net profits or losses, cash flows, and financial conditions. This decision reflects QuantaSing's commitment to returning value to shareholders while maintaining financial flexibility.
Positive
- Declaration of a special dividend of US$0.067 per ordinary share
- Total dividend distribution of approximately US$11 million
- Dividend funded from surplus cash, indicating strong cash position
- Board's discretion to make future distributions based on financial performance
Negative
- None.
News Market Reaction
On the day this news was published, QSG gained 28.02%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
BEIJING, Oct. 01, 2024 (GLOBE NEWSWIRE) -- QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading lifestyle solution provider empowering adults to live better and longer, today announced that its board of directors (the “Board”) has approved the declaration and distribution of a special dividend (the “Special Dividend”) of US
The aggregate amount of the Special Dividend will be approximately US
The determination to make distributions and the amount of such distributions will be made at the discretion of the Board and will be based upon the Company’s operations and earnings, including, but not limited, considerations of the Company’s GAAP and Non-GAAP net profits or losses, cash flows, financial conditions and other relevant factors.
Safe Harbor Statements
This announcement contains forward-looking statements within the meaning of Section 27A of Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1955. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding QuantaSing’s financial outlook, beliefs and expectations. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. Among other things, the Financial Outlook in this announcement contains forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases, and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new users and learners and to increase the spending and revenues generated from users and learners; its ability to maintain and enhance the recognition and reputation of its brand; its expectations regarding demand for and market acceptance of its services and products; expected growth, future trends and competition in the markets that we operate in; changes in its revenues and certain cost or expense items; PRC governmental policies and regulations relating to the Company’s business and industry, general economic and political conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC, including, without limitation, the final prospectus related to the IPO filed with the SEC dated January 24, 2023. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.
About QuantaSing Group Limited
QuantaSing is a leading lifestyle solution provider empowering adults to live better and longer. Leveraging its profound understanding of adult users and robust infrastructure, QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners as well as consumer products and service in selected areas to address the senior users’ aspirations for wellness.
For more information, please visit: https://ir.quantasing.com.
Contact
Investor Relations
Leah Guo
QuantaSing Group Limited
Email: ir@quantasing.com
Tel: +86 (10) 6493-7857
Robin Yang, Partner
ICR, LLC
Email: QuantaSing.IR@icrinc.com
Phone: +1 (212) 537-0429
FAQ
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