BANKCOMM (03328): The domestic preferred stock dividend rate has been adjusted to 2.77%.
Bank of Communications (03328) announced that it issued 45 billion yuan of non-cumulative perpetual domestic preferred shares (domestic preferred shares) in September 2016, with the dividend rate to be adjusted in phases. According to the terms of the domestic preferred shares, the dividend rate is adjusted every five years, meaning the rate resets every five years and remains the same within each adjustment period. The second adjustment period for the domestic preferred shares will reach its five-year mark, and based on the relevant terms, the bank will now adjust the dividend rate for the third adjustment period of the domestic preferred shares.
BANKCOMM (03328) issued an announcement stating that the bank issued RMB 45 billion in non-cumulative perpetual domestic preferred shares (domestic preferred shares) in September 2016 with a phased adjustment to the dividend rate. According to the terms of the domestic preferred shares, the dividend rate is adjusted every five years, meaning the dividend rate is reset every five years, remaining the same during each adjustment period. The second dividend rate adjustment period for the domestic preferred shares will reach five years, and in accordance with the relevant terms, the bank will adjust the dividend rate for the third adjustment period of the domestic preferred shares.
Accordingly, starting from September 7, 2026, the benchmark interest rate for the third dividend rate adjustment period for the domestic preferred shares will be 1.40%, with a fixed premium of 1.37%, resulting in a dividend rate of 2.77%, which will be paid annually.
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