News
Cathay Group distributes US$194m dividend to HKSAR government
June 7th 2023
Cathay Group said it would pay the Hong Kong Special Administrative Region (HKSAR) a deferred dividend of HK$1.5 billion (US$194 million) for the preference shares purchased by the government in 2020. Read More » The preference shares were part of the HKSAR government's measures to support the company during the COVID-19 pandemic. "Our financial position remains healthy," Cathay Group CEO, Ronald Lam, said. "As such, we feel confident that our journey of rebuilding Cathay for Hong Kong is on the right track, and now is the appropriate time to begin repaying the support that the HKSAR government has shown us." Cathay Group said it intended to pay future dividends as they fell due, and redeem the preference shares "in due course".
