CDEL

On November 16, 2011, our board of directors approved and declared a special cash dividend of $0.12 per ordinary share to shareholders of record as of the close of trading on December 15, 2011. Holders of CDEL’s ADS, which each represent four ordinary shares, were entitled to a cash dividend of $0.48 per ADS.

On November 13, 2012, our board of directors approved and declared a special cash dividend of $0.12 per ordinary share to shareholders of record as of the close of trading on December 7, 2012. Holders of CDEL’s ADS were entitled to a cash dividend of $0.48 per ADS.

On November 20, 2013, our board of directors approved and declared a cash dividend of $0.15 per ordinary share on our outstanding ordinary shares to shareholders of record as of the close of trading on January 8, 2014. Holders of ADS are entitled to a cash dividend of $0.60 per ADS.

On November 18, 2014, our Board of Directors approved and declared a cash dividend of $0.20 per ordinary share on our outstanding ordinary shares to shareholders of record as of the close of trading on January 6, 2015. Holders of ADS are entitled to a cash dividend of $0.80 per ADS.

On November 11, 2015, our Board of Directors approved and declared a cash dividend of $0.225 per ordinary share on our outstanding ordinary shares to shareholders of record as of the close of trading on January 6, 2016. Holders of ADS are entitled to a cash dividend of $0.9 per ADS.

On November 29, 2016, our Board of Directors approved and declared a special cash dividend of $0.1125 per ordinary share on our outstanding ordinary shares to shareholders of record as of the close of trading on January 6, 2017. Holders of ADS are entitled to a cash dividend of $0.45 per ADS.

On November 28, 2017, our Board of Directors approved and declared a special cash dividend of $0.1125 per ordinary share on our outstanding ordinary shares to shareholders of record as of the close of trading on January 12, 2018. Holders of American Depositary Shares ("ADS"), each representing four ordinary shares of CDEL, are accordingly entitled to a cash dividend of $0.45 per ADS.

On March 17, 2020, our Board of Directors approved and declared a special cash dividend of $0.145 per ordinary share on our outstanding ordinary shares to shareholders of record as of the close of trading on March 31, 2020. Holders of ADS are entitled to a cash dividend of $0.58 per ADS.

Our Board of Directors will, on a yearly basis, consider the payment of future cash dividends. Any future determination will be made at the discretion of our board of directors and will be based upon our future operations and earnings, capital requirements and surplus, general financial condition, shareholders’ interests, contractual restrictions, market conditions and other factors our board of directors may deem relevant.

Holders of our ADS will be entitled to receive dividends, if any, subject to the terms of the deposit agreement, to the same extent as the holders of our ordinary shares. Cash dividends will be paid to the depositary in U.S. dollars, which will distribute them to the holders of ADS according to the terms of the deposit agreement. Other distributions, if any, will be paid by the depositary to the holders of ADS in any means it deems legal, fair and practical.