On March 23, Tencent Holdings (0700.HK) released its fourth quarter and full-year financial results for 2021. There are rumors in the market that in the earnings conference call, Tencent President Liu Chiping denied the market speculation that Tencent will follow rival Alibaba to launch a share repurchase program.
On March 24, the news reporter confirmed that Tencent President Liu Chiping did not respond in yesterday’s conference call whether the stock repurchase plan will be launched. Tencent said it has been aggressively allocating JD.com shares, repurchasing shares in the market, and declaring regular dividends over the past few months. “These are three ways we give back to our shareholders.”
Tencent previously disclosed in the third quarter financial report of last year that it had repurchased about 2.6 billion Hong Kong dollars of company shares, totaling 5.5818 million shares and have been cancelled. The buyback is designed to enhance shareholder value in the long run.
As of press time, Tencent’s stock price fell 3.24% to HK$376.4