BEIJING, Oct. 16, 2012 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. (NYSE: XIN), a residential real estate developer with a focus on high growth, strategic Tier II & III cities in China, today announced that its Board of Directors has declared its third quarterly cash dividend payment for 2012 of US$0.02 per common share, or US$0.04 per American Depositary Share (ADS), which will be payable on October 31, 2012 to shareholders of record as of October 25, 2012.
In April 2012, the Company announced the initiation of a quarterly cash dividend of US$0.02 per common share, or US$0.04 per ADS, equivalent to an annual cash dividend of US$0.08 per common share, or US$0.16 per ADS. The first quarterly dividend was payable to shareholders in May 2012 and the second was payable to shareholders in August 2012.
Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer commented, "We are pleased to reward our shareholders with our third quarterly dividend payment for 2012. We look forward to strong operational execution for the remainder of this year and will continue to evaluate opportunities to further enhance value for our shareholders."
About Xinyuan Real Estate Co., Ltd.Xinyuan Real Estate Co., Ltd. ("Xinyuan") (NYSE: XIN) is a developer of large scale, high quality residential real estate projects aimed at providing middle-income consumers with a comfortable and convenient community lifestyle. Xinyuan focuses on China's Tier I and II cities, characterized as larger, more developed urban areas with above average GDP and population growth rates. Xinyuan has expanded its network to cover a total population of over 64.7 million people in eight strategically selected Tier II cities, comprising Beijing, Hefei, Jinan, Kunshan, Suzhou, Zhengzhou, Xuzhou and Chengdu. Xinyuan's U.S. development arm, XIN Development Group International, Inc. ("XIN") is a pioneer amongst Chinese real estate residential developers, entering the US market with three projects in 2012. Xinyuan is the first real estate developer from China to be listed on the New York Stock Exchange. For more information, please visit http://www.xyre.com. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the ''safe harbor'' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including statements concerning our beliefs, forecasts, estimates and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including, but not limited to, the risk that: our financing costs are subject to changes in interest rates; our results of operations may fluctuate from period to period; the recognition of our real estate revenue and costs relies on our estimation of total project sales value and costs; we may be unable to acquire desired development sales at commercially reasonable costs; increases in the price of raw materials may increase our cost of sales and reduce our earnings; we are heavily dependent on the performance of the residential property market in China, which is at a relatively early development stage; PRC economic, political and social conditions as well as government policies can affect our business; the market price of our ADSs may be volatile, and other risks outlined in our public filings with the Securities and Exchange Commission, including our annual report on Form 20-F for the year ended December 31, 2011. All information provided in this press release is as of October 16, 2012. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. For more information, please contact:
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