This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Lihua International Announces Special Cash Dividends

Stocks in this article: LIWA

DANYANG, China, Nov. 9, 2011 /PRNewswire-Asia/ -- Lihua International, Inc. (Nasdaq: LIWA) ("Lihua" or the "Company"), a leading Chinese developer, designer, and manufacturer of low cost, high quality alternatives to pure copper products, today announced that its Board of Directors has approved the issuance of two special dividends to Lihua shareholders.

The amount of each special dividend will be $0.03 per outstanding share of Lihua common stock on the respective record dates.  The first dividend is payable on January 13, 2012 to Lihua shareholders of record on December 31, 2011 and the second dividend is payable on April 13, 2012 to Lihua shareholders of record on March 31, 2012.  

The per share amount of each special dividend is calculated on an annualized method based on 5% of the Company's full-year GAAP net income of $38.5 million for the twelve months ended December 31, 2010.  

Magnify Wealth Enterprise Ltd., the Company's largest shareholder and an affiliate of Mr. Jianhua Zhu, the Company's founder, Chairman and CEO, has agreed to waive payment of the two special dividends.  Accordingly, the two special dividends will be distributed among approximately 16.8 million shares, or 56% of the Company's outstanding common stock as of November 8, 2011, assuming there are no new share issuances prior to each record date.  

"We have generated solid financial growth since our 2009 Initial Public Offering, and have continued to deliver on our strategic and operational objectives while positioning the Company for sustainable growth over the long-term," said Mr. Zhu. "We are making meaningful investments to support Lihua's future growth and deliver accretive top and bottom line growth through organic expansion, as well as new product introductions and new market penetration. We remain committed to generating value for our shareholders and believe that the special dividends are an ideal way to provide an immediate return on investment to our shareholders."  

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs