Noah Holdings (NOAH) has released an update.
Noah Holdings Private Wealth and Asset Management Limited has implemented a US$50 million share repurchase program to boost shareholder returns amid a challenging period for China’s wealth management industry. The company, confident in its unique position servicing Mandarin-speaking high-net-worth individuals, recently distributed a record dividend equivalent to its full year 2023 non-GAAP net income. This move aligns with Noah’s proactive capital allocation policy and reflects its belief in the undervaluation of its stock and strong financial health.
For further insights into NOAH stock, check out TipRanks’ Stock Analysis page.
