SHANGHAI, Jan. 22, 2019 /PRNewswire/ -- GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree" or the "Company"), a leading franchised hotel operator in China, today announced that its board of directors approved the payment of a cash dividend of US$0.30 per ordinary share, or US$0.30 per American Depositary Share ("ADS"). The holders of the Company's ordinary shares shown on the Company's record at the close of trading on February 6, 2019 (U.S. Eastern Time) (the "Record Date") will be entitled to these dividends. These shareholders, including Deutsche Bank Trust Company Americas, the depositary bank for the Company's ADS program (the "ADS Depositary"), are expected to receive the payments of dividends on or about February 22, 2019. Dividends to the Company's ADS holders are expected to be paid through the ADS Depositary on or about February 28, 2019, and will be subject to the terms of the deposit agreement by and among the Company and the ADS Depositary, and the holders and beneficial owners of ADSs issued thereunder, including the fees and expenses payable thereunder.
The total amount of cash to be distributed for the dividends is expected to be approximately US$30.5 million.
In addition, GreenTree plans to pay a cash dividend of US$0.20 per share per year in the near future if there is no immediate cash need for the Company's growth or M&A opportunities.
About GreenTree Hospitality Group Ltd.
GreenTree Hospitality Group Ltd. ("GreenTree" or the "Company") (NYSE: GHG) is a leading franchised hotel operator in China. As of September 30, 2018, GreenTree had 2,558 hotels, among which 2,528 are franchised and managed hotels. The Company had the highest proportion of franchised-and-managed hotels among the top four economy to mid-scale hotel networks in China. In 2017, GreenTree was the fourth largest economy to mid-scale hotel group in China in terms of number of hotels according to China Hospitality Association. The Company has built a strong suite of brands including its flagship "GreenTree Inns" brand as a result of its long-standing dedication to the hospitality industry in China and consistent quality of its services, signature hotel designs, broad geographic coverage and convenient locations. GreenTree has positioned its brands to appeal to value-and-quality-conscious business travelers and leisure travelers.
For more information on GreenTree, please visit http://ir.998.com
Safe Harbor Statements
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. In some cases, these forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," "confident," "future," or other similar expressions. GreenTree may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about or based on GreenTree's current beliefs, expectations, assumptions, estimates and projections about us and our industry, are forward-looking statements that involve known and unknown factors, risks and uncertainties that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Such factors and risks include, but not limited to the following: GreenTree's goals and growth strategies; its future business development, financial condition and results of operations; trends in the hospitality industry in China and globally; competition in our industry; fluctuations in general economic and business conditions in China and other regions where we operate; the regulatory environment in which we and our franchisees operate; and assumptions underlying or related to any of the foregoing. You should not place undue reliance on these forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided, including the forward-looking statements made, in this press release are current as of the date of the press release. Except as required by law, GreenTree undertakes no obligation to update any such information or forward-looking statements to reflect events or circumstances after the date on which the information is provided or statements are made, or to reflect the occurrence of unanticipated events.
For more information, please contact:
Ms. Selina Yang
Phone: +86-21-3617-4886 ext. 7999
Mr. Nicky Zheng
Phone: +86-21-3617-4886 ext. 6708
Ms. Constance Zhang
In Hong Kong
Ms. Karen Hui
Ms. Linda Bergkamp
SOURCE GreenTree Hospitality Group Ltd.