11:52 AM EDT, 03/27/2024 (MT Newswires) -- Noah Holdings ( NOAH ) shares were up nearly 18% in recent Wednesday trading after it reported its Q4 results late Tuesday and said its board has approved an annual and special dividend.

The company reported Q4 non-GAAP earnings of 3.36 Chinese renminbi ($0.46) per diluted American depositary share, up from 2.14 renminbi a year earlier.

Net revenue for the quarter ended Dec. 31 was 799.5 million renminbi, down from 882.1 million renminbi a year earlier.

No analyst estimates were available on Capital IQ for comparison.

The company also said late Tuesday its board has authorized an annual dividend of about 509 million renminbi and a special dividend of about 509 million renminbi.

The annual and special dividend plan will be reviewed after the company's general meeting, which is slated for June, Noah said.

Price: 11.92, Change: +1.80, Percent Change: +17.79