Rakuten on July 3
Douyu (Ticker: DOYU) today announced that its Board of Directors approved and declared a special cash dividend of $9.76 per ordinary share, or $9.76 per American Depositary Share (ADS).
The total cash dividends to be paid by Betta are approximately US$300 million and are expected to be paid to ordinary shareholders and ADSs holders on or about August 30, 2024.
Holders of the Company's ADSs will receive cash dividends through the depositor, JPMorgan Chase Bank (N.A.), subject to the terms and conditions of the depositary agreement.
"Although we continue to face a challenging macroeconomic and operational environment, we remain committed to protecting the interests of our shareholders," the interim management committee of Douyu said. Primarily due to the Company's current cash position, the Board of Directors has approved a special cash dividend of approximately US$300 million as part of our ongoing efforts to reward our shareholders. ”
As of March 31, 2024, Tencent held 38.2% of the shares, and Chen Shaojie, founder and CEO of Douyu, held 17.2% of the shares.
As of March 31, 2024, Douyu's shareholding structure
Based on this calculation, Tencent can receive a dividend of US$114 million, and Chen Shaojie can receive a dividend of US$51.6 million.
According to the latest financial report, Douyu's revenue in the first quarter of 2024 will be 1.04 billion, down 30% from the same period last year. Since the first quarter of 2022, Douyu's revenue has declined sharply year-on-year for 9 consecutive quarters, and there has been a quarter-on-quarter decline for 7 quarters.
Douyu's advertising and other business revenue in the first quarter of 2024 was 239 million yuan, and the proportion of revenue contribution rose to 23%.
Douyu's net loss in the first quarter of 2024 was 88 million yuan, compared with a net profit of 14.52 million yuan in the same period last year.
As of March 31, 2024, Douyu held cash and cash equivalents, restricted cash, short-term investments, etc. of 6.762 billion yuan (approximately US$937 million), while as of December 31, 2023, Douyu held cash and cash equivalents, restricted cash, short-term investments, etc. of 6.856 billion yuan.
This is the first time that Douyu has paid such a large dividend since its listing, and Douyu will still hold more than $600 million in cash and cash equivalents after this dividend.
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