Pudong Bank sets stock, cash dividend for 2007
SHANGHAI (Reuters) - Shanghai Pudong Development Bank (600000.SS) said on Thursday that its shareholders would receive a 2007 dividend of three bonus shares and 1.6 yuan in cash for every 10 shares held.
The plan, which is subject to shareholder approval, is more generous than its 2006 dividend plan, under which shareholders received 1.5 yuan for every 10 shares held.
The bank announced earlier that net profit jumped 64 percent last year and that it planned a share sale to raise around 25 billion yuan ($3.5 billion).
(Reporting by Samuel Shen; Editing by Andrew Torchia)
