SINGAPORE, May 12, 2014 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") announced today that a dividend of US$1.20 per share of common stock for the financial year 2013 has been declared by its Board of Directors. The dividend payment will be made either wholly in cash or in new shares of CYI's common stock ("Shares") at the option of the stockholder.
Stockholders will make an election to receive the dividend either wholly in cash or in Shares. The number of Shares to be issued per share of common stock as a result of the dividend payment will be determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from June 18 to and including June 20, 2014. The dividend is payable on July 7, 2014 to shareholders of record at the close of business on May 28, 2014 with an ex-dividend date of May 26, 2014.
Shareholders who do not make an election will receive the dividend entirely in cash. CYI will pay fractional shares in cash which will be determined based on the volume weighted average trading prices of the Company's common stock on the New York Stock Exchange during the period from June 18 to and including June 20, 2014. The Company reserves the right to pay the dividend entirely in cash.
An election form will be mailed to shareholders of record after the record date. The properly completed election form to receive cash or Shares must be received by Computershare, ("Computershare"), the Company's transfer agent before 5.00 p.m. Eastern Standard Time on June 17, 2014. All completed election forms should be sent to Computershare at P.O. BOX 30170, College Station, TX 77842-3170. Overnight correspondence should be sent to Computershare at 211 Quality Circle, Suite 210, College Station, TX 77845.Registered shareholders with questions regarding the dividend election may call Computershare at 1-800-522-6645 within the United States or 1-201-680-6578 outside the United States and Canada. Shareholders who hold their Shares through a bank, broker or nominee, and have questions regarding the dividend election should contact such bank, broker or nominee who will also be responsible for distributing to them the election form and submitting the completed form on their behalf to Computershare. The payment of any future dividends, including elective dividends payable in cash or shares, will be entirely at the discretion of the Board of Directors and will be dependent upon China Yuchai's financial position, results of operations, available cash, cash flow, capital requirements and other factors deemed relevant by the Board of Directors.