In the news release, Xinyuan Real Estate Co., Ltd. (XIN) Announces Fourth Quarterly Dividend Payment for 2012, issued 07-Feb-2013 by Xinyuan Real Estate Co., Ltd. over PR Newswire, we are advised by the company that in the first graph, first sentence, the phrase shareholders of record as of February 15, 2013, should read, shareholders of record as of February 19, 2013, which was originally issued inadvertently. The complete, corrected release follows:Xinyuan Real Estate Co., Ltd. Announces Fourth Quarterly Dividend Payment for 2012 Company raises quarterly dividend by 25% to US$0.05 per ADS - Correction: Record dividend date set to be February 19, 2013 -
BEIJING, Feb. 7, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. (NYSE: XIN), a residential real estate developer with primary focus on high growth cities in China, today announced that its Board of Directors has declared its fourth quarterly cash dividend payment for 2012 of US$0.025 per common share, or US$0.05 per American Depositary Share (ADS), which will be payable on February 28, 2013 to shareholders of record as of February 19, 2013. This represents an increase of US$0.01 per ADS or 25%, over the Company's previous quarterly dividend of US$0.04 per ADS.
Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer commented, "Our strong financial condition allows us to raise our quarterly dividend payment, which reinforces our focus on returning capital to our shareholders while we continue to invest in the long-term growth of our business. We believe Xinyuan is well positioned to capitalize on strategic opportunities in 2013 and look forward to updating investors on our upcoming fourth quarter and full year 2012 financial earnings call in late February."
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. (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 February 7, 2013. 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:
Mr. Tom Gurnee
Chief Financial Officer
Tel: +86 (10) 8588-9390
Ms. Helen Zhang
Tel: +86 (10) 8588-9255
In U.S.: +1-646-308-1472
In China: +86 (10) 6583 7511
SOURCE Xinyuan Real Estate Co., Ltd.