Beijing North Star Co. Ltd. gained approval for the proposed offering of at most 2.00 billion Chinese yuan bonds and a final 2016 dividend, among the approval of other resolutions, at an annual general meeting held June 1.

A final dividend of 6 Chinese fen per share was approved by the board during the meeting.

Shareholders of H shares will receive their due distributions in Hong Kong dollars, with a per-share payout of 6.8 Hong Kong cents expected. The company applied a currency exchange ratio of HK$1.00 to 88.22 fen, based on an average mean rate provided by The People's Bank of China from May 22 to May 26.

Meanwhile, the dividend distribution for holders of A shares and southbound traded H shares will be paid out in Chinese yuan.

In addition, a special resolution was passed on the company's mandate to issue perpetual medium-term notes not exceeding 4.00 billion yuan.

As of June 1, US$1 was equivalent to 6.80 Chinese yuan.