Waterdrop declared a special cash dividend, the aggregate payment of which amounted to approximately US$15 million

Rhea-AI Summary

Waterdrop Inc. (NYSE: WDH) announces unaudited financial results for Q4 2023 and full year, declares special cash dividend of US$15 million. The company also repurchased 39.7 million ADSs totaling US$88.8 million. Waterdrop aims for stable growth in China's insurance and healthcare market in 2024.

Positive

• Waterdrop Inc. declares a special cash dividend of approximately US$15 million for 2023.
• The special cash dividend amounts to US$0.04 per ADS or US$0.004 per ordinary share.
• Shareholders of record by April 19, 2024, will receive the dividend on or around April 30, 2024.
• Waterdrop has repurchased 39.7 million ADSs from the open market for a total of approximately US$88.8 million.
• The company aims to maintain profitability and pursue stable growth in China's insurance and healthcare market in 2024.

Negative

• None.

BEIJING, March 27, 2024 /PRNewswire/ -- Waterdrop Inc. (NYSE: WDH), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced its unaudited financial results for the three months and full year ended December 31, 2023 and a special cash dividend.

In recognition of the invaluable support from shareholders, Waterdrop declared a special cash dividend, the aggregate payment of which amounted to approximately US$15 million. The special cash dividend of US$0.04 per ADS or US$0.004 per ordinary share for 2023 to shareholders of record as of the close of business on April 19, 2024. The payment date is expected to be on or around April 30, 2024 for holders of ordinary shares and on or around May 3, 2024 for holders of ADSs.

Meanwhile, pursuant to the share repurchase programs launched in September 2021, September 2022 and September 2023, respectively, Waterdrop had cumulatively repurchased approximately 39.7 million ADSs from the open market with cash for a total consideration of approximately US$88.8 million as of February 29, 2024.

Looking into 2024, Waterdrop will continue to execute strategy to pursue stable and high-quality growth while maintaining profitability, as Waterdrop is well positioned to seize the next wave of opportunities in China's insurance and healthcare market.

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SOURCE Waterdrop Inc.

FAQ

What is the special cash dividend declared by Waterdrop Inc. for 2023?

Waterdrop Inc. declared a special cash dividend of approximately US$15 million for 2023.

How much is the special cash dividend per ADS?

The special cash dividend amounts to US$0.04 per ADS.

How many ADSs has Waterdrop repurchased from the open market?

Waterdrop has repurchased approximately 39.7 million ADSs from the open market.

What is the total consideration for the ADS repurchase?

The total consideration for the ADS repurchase is approximately US$88.8 million.

What is Waterdrop's strategy for 2024?

Waterdrop aims to maintain profitability and pursue stable growth in China's insurance and healthcare market in 2024.