Original title: Securities Code: 601398 Securities abbreviation: Industrial and Commercial Bank of ChinaAnnouncement No.: notice of China Industrial and Commercial Bank of China Co., Ltd. on the implementation of dividends on overseas US dollar preferred shares, no. Lin 2021-039
The board of directors and all directors of China Industrial and Commercial Bank of China Co., Ltd. guarantee that there are no false records, misleading statements or material omissions in the contents of this announcement, and bear individual and joint and several liability for the authenticity, accuracy and completeness of its contents.
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Stock code: 4620
Stock abbreviation: ICBC 20USDPREF
Equity registration date: September 22, 2021
Dividend payment date: September 23, 2021
I. the meeting of the board of directors through the dividend distribution scheme for overseas US dollar preferred shares
The first interim shareholders' meeting of China Industrial and Commercial Bank of China Co., Ltd. (hereinafter referred to as the Bank) in 2018 examined and passed the "proposal on the overseas issuance of preferred shares of China Industrial and Commercial Bank of China Co., Ltd." authorizes the board of directors to handle the dividend distribution of overseas US dollar preferred shares. Overseas US dollar preferred stock (stock abbreviation: ICBC 20USDPREF; stock code: 4620) the dividend distribution plan has been examined and approved by the board of directors held by the Bank on August 27th, 2021, and the announcement of the resolution of the board of directors is published on the website of the Shanghai Stock Exchange (www.sse.com.cn) and the Bank of China (www.icbc-ltd.com).
II. Dividend distribution scheme for overseas US dollar preferred shares
1. Interest-bearing period: from September 23, 2020 (including that date) to September 23, 2021 (excluding that date)
two。 Equity registration date: September 22, 2021
3. Dividend payment date: September 23, 2021
4. Issuing object
At the close of business hours of Euroclear Bank SA/NV (hereinafter referred to as Euroclear) and Clearstream Banking, S.A. (hereinafter referred to as Clearstream) on September 22nd, 2021 (06:00 CET), shareholders of the Bank's foreign dollar preferred shares registered at The Bank of New York Mellon SA/NV, Luxembourg Branch.
5. Tax deduction
The Bank pays a dividend of about US $115.3 million (including tax) on overseas US dollar preferred shares. In accordance with the relevant laws and regulations, when paying dividends on overseas US dollar preferred shares, the Bank shall withhold and pay income tax at a tax rate of 10%. In accordance with the relevant provisions of the terms and conditions of overseas US dollar preferred shares, the relevant taxes and fees shall be borne by the Bank.
6. Dividend yield and amount paid
The initial dividend yield of offshore US dollar preferred shares before the first reset date as determined by the terms and conditions of offshore US dollar preferred shares is 3.58% (excluding tax). According to the amount of interest-bearing principal of overseas US dollar preferred shares, the dividend yield of overseas US dollar preferred shares and the tax rate of withholding income tax, the Bank will distribute a dividend of about US $115.3 million on overseas US dollar preferred shares, of which about US $103.8 million will be paid to shareholders of overseas US dollar preferred shares and about US $11.5 million will be withheld for withholding income tax.
III. Measures for the implementation of the dividend payment Scheme for overseas US Dollar preferred shares
The Bank will entrust The Bank of New York Mellon, London Branch as the payment agent to pay dividends on overseas US dollar preferred shares to The Bank of New York Depository (Nominees) Limited (as the holder of the joint depositary of Euroclear and Clearstream) or as directed by the Bank. The Bank requires that upon receipt of dividends on offshore US dollar preferred shares, Euroclear or Clearstream, or its holders, will remit money to the participant's account on a pro rata basis in accordance with the participants' respective beneficial interests in offshore US dollar preferred shares as stated in the records of Euroclear or Clearstream or its holders.
The payment by The Bank of New York Mellon, London Branch to or as directed by The Bank of New York Depository (Nominees) Limited relieves the Bank of its obligation to pay the relevant payments under the offshore US dollar preferred shares. Each account holder must obtain his or her share of each payment to The Bank of New York Depository (Nominees) Limited only through Euroclear or Clearstream, whichever is applicable. If the shareholder of the offshore US dollar preferred stock is not the account holder himself, the owner must obtain his share only through the account holder for each payment made to the relevant account holder who holds the offshore US dollar preferred stock on his behalf.
It is hereby announced.
Board of Directors of China Industrial and Commercial Bank of China Co., Ltd.
14 September 2021