(Yicai Global) July 30 -- Eastroc Beverage plans to issue a generous semi-annual dividend of CNY600 million (USD93 million) just two months since listing in Shanghai, over half of which will go to the Chinese energy drink firm’s chairman and family who are majority shareholders.

Eastroc will pay CNY15 (USD2.30) for every 10 shares it has issued, the Shenzhen-based company said in its semi-annual report on July 28. Lin Muqin, who is also president, and his family hold a more than 50 percent stake and can expect to rake in CNY300 million.

The beverage maker reported a strong performance in the first half largely due to an improved sales network, it said. Eastroc logged a 53 percent surge in net profit from the same period last year to CNY676 million and a 49 percent jump in revenue to CNY3.68 billion (USD570 million).

Eastroc’s share price [SHA:605499] closed down 4.9 percent today at CNY195.52 (USD30), almost triple its issue price of CNY66.63 on May 27.

Editor: Kim Taylor