© Reuters
SHANGHAI – Smart Share Global Limited (NASDAQ:EM), also known as Energy Monster, has declared a special cash dividend to its shareholders, a move reflecting the company’s financial health and commitment to returning value to its investors.
The consumer tech company, which leads the mobile device charging service market in China, announced that its Board of Directors approved a special cash dividend of $0.015 per ordinary share, or $0.03 per American Depositary Share (ADS). The record date for determining shareholders eligible for the dividend is set for May 31, 2024, with the payment expected to be disbursed on or around June 7, 2024, for ordinary share holders and around June 14, 2024, for ADS holders.
The total cash distribution for this dividend is anticipated to be approximately $8 million. This sum will be drawn from the surplus cash on Energy Monster’s balance sheet. As of September 30, 2023, the company reported having roughly RMB 3.3 billion in liquid assets, including cash, cash equivalents, short-term investments, and restricted cash.
Energy Monster has established a substantial presence in the mobile device charging industry, with 8.7 million power banks across 1,189,000 points of interest (POIs), such as entertainment venues, restaurants, shopping centers, and transportation hubs. Users access the charging service by scanning QR codes on the company’s cabinets to release power banks.
The information in this article is based on a press release statement.
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This story originally appeared on Investing
