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Phoenix New Media ADRs Up 16%; Declares Special Dividend >FENG

道琼斯 ·  Nov 14, 2019 23:12

DJ Phoenix New Media ADRs Up 16%; Declares Special Dividend >FENG



By Michael Dabaie



Phoenix New Media Limited (FENG) ADRs were up 16% to $3.54 in early trading.

The new media company in China said its board declared a special cash dividend of 17.14 cents per ordinary share, equivalent to $1.37 per American depositary share. The special dividend totals about $100 million and is payable on December 13.

In connection with the declaration of special cash dividend, the board also approved a special cash compensation to the company's option holders of about an aggregate $8.3 million.



Write to Michael Dabaie at michael.dabaie@wsj.com



(END) Dow Jones Newswires

November 14, 2019 10:12 ET (15:12 GMT)

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