RLX Technology Inc. Sponsored ADR (NYSE:RLX) to Issue Annual Dividend of $0.01

Key Points

• RLX Technology Inc. has announced a $0.01 annual dividend, which represents a high dividend yield of 70.0%, with shareholders of record receiving payment on September 26th.
• The company has a dividend payout ratio of 8.3%, indicating that its dividend is well covered by earnings.
• Recently, RLX Technology's stock has been downgraded to a "sell" rating by some analysts, with a consensus price target of $2.25.

RLX Technology Inc. Sponsored ADR (NYSE:RLX - Get Free Report) announced an annual dividend on Friday, August 22nd, Wall Street Journal reports. Investors of record on Friday, September 12th will be given a dividend of 0.01 per share on Friday, September 26th. This represents a yield of 70.0%. The ex-dividend date of this dividend is Friday, September 12th.

RLX Technology has a payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings.

RLX Technology Stock Up 3.0%

RLX Technology stock traded up $0.08 during midday trading on Friday, reaching $2.55. The stock had a trading volume of 6,333,964 shares, compared to its average volume of 2,954,740. RLX Technology has a 52-week low of $1.57 and a 52-week high of $2.69. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 36.36 and a beta of 1.09. The company has a fifty day moving average of $2.27 and a 200 day moving average of $2.11.

RLX Technology (NYSE:RLX - Get Free Report) last issued its earnings results on Friday, August 22nd. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.16). The company had revenue of $122.88 million for the quarter, compared to analysts' expectations of $725.00 million. RLX Technology had a return on equity of 4.54% and a net margin of 22.32%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RLX. First Beijing Investment Ltd lifted its position in RLX Technology by 75.6% during the first quarter. First Beijing Investment Ltd now owns 41,036,045 shares of the company's stock valued at $77,148,000 after purchasing an additional 17,661,160 shares during the period. BRIGHT VALLEY CAPITAL Ltd acquired a new position in shares of RLX Technology in the fourth quarter worth about $19,297,000. Canada Pension Plan Investment Board raised its position in shares of RLX Technology by 49,495,580.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,474,784 shares of the company's stock worth $4,653,000 after acquiring an additional 2,474,779 shares during the period. Nomura Holdings Inc. raised its position in shares of RLX Technology by 54.3% in the first quarter. Nomura Holdings Inc. now owns 5,555,303 shares of the company's stock worth $10,444,000 after acquiring an additional 1,954,316 shares during the period. Finally, Man Group plc raised its position in shares of RLX Technology by 118.8% in the fourth quarter. Man Group plc now owns 3,165,638 shares of the company's stock worth $6,838,000 after acquiring an additional 1,718,816 shares during the period. 22.68% of the stock is currently owned by institutional investors and hedge funds.

About RLX Technology

RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People's Republic of China and internationally. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.