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Yirendai declares special dividend, raises FY'17 revenue guidance

Yirendai Ltd. declared a special dividend and raised its forecast for total net revenue for the year ending Dec. 31.

The company said it approved a semiannual dividend policy and declared a special cash dividend of 5.0845 Chinese yuan per share, or 10.1690 yuan per American depositary share. The dividend is expected to be paid Oct. 16 to shareholders of record Sept. 29.

Meanwhile, the company said it expects total net revenue for 2017 to be in the range of 4.80 billion yuan to 5.00 billion yuan, up from its previously expected range of 4.40 billion yuan to 4.60 billion yuan.

Adjusted EBITDA for the full year is forecast to be in the range of 1.30 billion yuan to 1.40 billion yuan.

For the third quarter, the company expects total net revenue of between 1.30 billion yuan and 1.35 billion yuan and adjusted EBITDA of 280 million yuan to 320 million yuan.

As of Aug. 2, US$1 was equivalent to 6.72 Chinese yuan.