China's third-wealthiest man is about to get US$1.7 bil richer

(Aug 10): China Evergrande Group is about to hand its billionaire chairman a big lump of cash.

The developer, which has regularly bought back its own shares, will hold a board meeting on Aug 20 to consider paying a special dividend for the past two financial years. Assuming a payout of 50% of 2016-2017 profit, as announced in March, that could amount to 11.5 billion yuan (US$1.7 billion) for Hui Ka Yan, who owns about 78% of the company.