Financial Update and Interim Dividend
1. Interim Dividend
The CDC Board has approved an interim dividend for the Company's shareholders in line with the Company's dividend policy. An unfranked interim dividend of 0.57 cents (AUD) per CDI is to be paid and is calculated on the net profits after tax for the 9 months to 31 March 2016. Details of the interim dividend are outlined in the table below:
Interim Dividend Details
Interim dividend for the 9 months ending 31 March 2016 0.57: cents (AUD) per CDI
Franking status: Unfranked
Record date: 31 May 2016
Payment date: 11 July 2016
2. Financial update for the 9 months ending 31 March 2016
China Modern Agricultural Information Inc. ("CMCI") is listed on OTC Markets Group ("OTC") in the US and through its wholly owned subsidiary, Hope Diary Holdings Ltd., is the majority shareholder in CDC.
On 23 May 2016, CMCI filed a Form 10-Q (Quarterly Report) for the period ended 31 March 2016 with the U.S. Securities and Exchange Commission and OTC.
CMCI's results have been adjusted to represent the financial position of CDC for the 9 months ended 31 March 2016. The financial information presented is unaudited, but is accompanied by a review report from Wei, Wei & Co., LLP, the Company's independent registered public accounting firm.
The financial information presented below has been prepared under US GAAP.
To view the full release including tables and figures, please visit:
About China Dairy Corp Ltd
China Dairy Corporation Limited (ASX:CDC) is a company primarily engaged in the production and wholesale of raw milk and the rearing, breeding and sale of dairy cows in Heilongjiang province, China.
CDC generates revenue through two primary business models:
- the sale of raw milk from cows that are owned by the company; and
- milk sale commissions on the sale of raw milk from cows the company has sold to farmers.
As at 31 March 2017, CDC owned 31,877 cows and partnered with farmers with an additional 20,927 cows from which CDC makes a sales commission on the milk sold.
China Dairy Corp Ltd