Xinyuan Provides Q3, FY18 Outlook, Declares Q2 Dividend - Quick Facts

(RTTNews) - Real estate developer Xinyuan Real Estate Co., Ltd. (XIN) said Wednesday it expects contract sales to be about $540 million for the third quarter of 2018. It also projects fiscal 2018 increase in contract sales of about 10 percent and an increase in consolidated net income of 15 to 20 percent over 2017.

The 2018 business outlook reflects the modified retrospective adoption of ASC 606 and may not be comparable to prior year periods.

The company also announced that its Board of Directors has declared a cash dividend for the second quarter of 2018 of $0.05 per common share, or $0.10 per American Depositary Share, payable before September 12, 2018 to shareholders of record as of August 27, 2018.