Kweichow Moutai pays out almost $4bn in dividend

Chinese liquor giant Kweichow Moutai will treat shareholders to a RMB 27.5 billion ($3.8 billion) special cash dividend, the first time since going public that the company has paid a bonus separate from its regular annual dividend, according to a Monday exchange filing, reports Caixin.

Following the announcement, Kweichow Moutai’s Shanghai-listed shares jumped 5.9% on Tuesday, ending the day at RMB 1,599 apiece.

The state-owned firm’s controlling shareholder Kweichow Moutai Group and a subsidiary will use part of the dividend to buy up to RMB 3.1 billion of the company’s shares, according to a separate filing.