SHANGHAI, China, Dec. 21, 2015 (GLOBE NEWSWIRE) -- China Lodging Group, Limited (HTHT) (the "Company"), a leading and fast-growing multi-brand hotel group in China, today announced that its board of directors declared a one-time cash dividend of US$0.17 per ordinary share, or US$0.68 per American Depositary Share ("ADS”). Holders of the Company's ordinary shares at 5:00 p.m. on December 31, 2015 (China Beijing Time) and holders of the Company’s ADS at the close of business on December 30, 2015 (U.S. New York Time) (the "Record Dates") will be entitled to receive the cash dividend. Citibank, N.A., depositary bank for the Company’s ADS program (the “ADS Depositary”), expects to pay out dividends to ADS holders on or around February 4, 2016. Dividends to be paid to the Company’s ADS holders through the ADS Depositary will be subject to the terms of the deposit agreement by and among the Company and the ADS Depositary, and the holders and beneficial owners of ADS issued thereunder, including the fees and expenses payable thereunder.
The total amount of cash to be distributed for the special dividend is expected to be approximately US$43 million.
As of September 30, 2015, the Company had US$126 million in cash and cash equivalents.