Sesame as dividends is fodder for online jokes
Source: Xinhua |
April 12, 2013, Friday
|
Print Edition
Print Edition
A WELL-KNOWN Chinese food maker's proposal to pay dividends to shareholders in the form of its own products has stirred great interest online.
Nanfang Black Sesame Group Co, best known for its cereal-like sesame powder, decided to provide 12 cans of the stuff as dividends for every 1,000 shares registered before yesterday.
The company announced this peculiar decision on its website on Monday, and it will mark the first time a dividend related to A Shares of Shanghai Stock Exchange has been paid in a form other than cash.
As the biggest shareholder aside from Nanfang itself, China Asset Management Company (ChinaAMC) will receive a total 61,656 cans.
And it is proposed that the biggest private shareholder, Lin Yier, will get 25,548 cans - enough to allow this dubiously lucky investor to eat a can for every meal each day for the next 23 years.
According to Nanfang, none of its biggest shareholders have showed interest, and a final vote on the proposal will be taken at a stockholders meeting on April 19.
The company's stocks rose from 10.63 yuan on Monday to 12.97 yuan on Wednesday per share.
The announcement inspired much online discussion with more jokes than praise.
"This is like spending almost 13,000 yuan (US$2,077) and getting a gift worth 200 yuan," a microblogger said.
Another asked ChinaAMC to "share the cans with its investors, just like Nanfang did, for it is impossible for AMC to eat all the powder itself."
Investors in Moutai, China's most famous liquor brand, also proposed that dividends be paid with liquor!
Nanfang Black Sesame Group Co, best known for its cereal-like sesame powder, decided to provide 12 cans of the stuff as dividends for every 1,000 shares registered before yesterday.
The company announced this peculiar decision on its website on Monday, and it will mark the first time a dividend related to A Shares of Shanghai Stock Exchange has been paid in a form other than cash.
As the biggest shareholder aside from Nanfang itself, China Asset Management Company (ChinaAMC) will receive a total 61,656 cans.
And it is proposed that the biggest private shareholder, Lin Yier, will get 25,548 cans - enough to allow this dubiously lucky investor to eat a can for every meal each day for the next 23 years.
According to Nanfang, none of its biggest shareholders have showed interest, and a final vote on the proposal will be taken at a stockholders meeting on April 19.
The company's stocks rose from 10.63 yuan on Monday to 12.97 yuan on Wednesday per share.
The announcement inspired much online discussion with more jokes than praise.
"This is like spending almost 13,000 yuan (US$2,077) and getting a gift worth 200 yuan," a microblogger said.
Another asked ChinaAMC to "share the cans with its investors, just like Nanfang did, for it is impossible for AMC to eat all the powder itself."
Investors in Moutai, China's most famous liquor brand, also proposed that dividends be paid with liquor!
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