04:36 AM EDT, 03/20/2024 (MT Newswires) -- ZTO Express ( ZTO ) reported Q4 adjusted earnings Tuesday of 2.67 renminbi ($0.38) per diluted American depositary share, up from 2.60 renminbi a year earlier.

Analysts polled by Capital IQ expected 2.70 renminbi.

Revenue for the quarter ended Dec. 31 was 10.62 billion renminbi, up from 9.87 billion renminbi a year earlier.

Two analysts polled by Capital IQ expected 10.92 billion renminbi.

The Chinese express delivery company said it has approved a cash dividend of $0.62 per ADS and ordinary share for fiscal 2023, payable April 29 to holders of record on April 10. The dividend represents a 68% increase from 2022.

The company's board also agreed to upsize its share repurchase program by $500 million to $2 billion and extend its effectivity through June 30, 2025.

ZTO was up more than 5% in recent Wednesday premarket activity.

Price: 22.89, Change: +1.23, Percent Change: +5.68