(Yicai) Oct. 11 -- SF Holding, China's largest express delivery company, said it plans to distribute as much as CNY6.7 billion (USD947 million) worth of dividends.

SF will make a CNY4.8 billion one-off payment to shareholders before it lists in Hong Kong, the Shenzhen-based firm announced yesterday, and the rest will be paid out as a first-half dividend.

SF will finance the dividends with its own funds, which it does not expect to significantly impact its ability to repay debt. The interim dividend is equal to about 40 percent of the company's first-half net profit, it noted.

The size of the dividends will rise steadily from this year to 2028, increasing from 35 percent last year, as will the payment frequency, SF pointed out.

In June, the company received approval from the China Securities Regulatory Commission for a secondary listing of up to 625 million shares on the Hong Kong Stock Exchange. The proceeds will be used to expand the firm's network and services in Asia.

SF's net profit jumped 15.1 percent to CNY4.8 billion in the six months ended June 30 from a year earlier, with revenue rising 8 percent to CNY134.4 billion (USD19 billion), according to the company’s most recent trading report.

Shares of SF [SHE: 002352] climbed 0.2 percent to close at CNY41.73 (USD5.90) apiece today. The broader Shenzhen market dropped 3.9 percent.

Editor: Martin Kadiev