Kweichow Moutai Co offered a dividend to its shareholders for 23 yuan ($3.42) plus 1 share for every 10 shares. Kweichow Moutai, China's largest liquor manufacturer in terms of market value, made the offer in its annual report released Monday, Shanghai Securities News reported.

The total distribution will hit 2.27 billion yuan, accounting for 44.8 percent of the company's net profits in 2010 and doubling the total offering of 2009.

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This is the highest dividend offered by Moutai since its listing. It sets a new record of cash dividends in China's A-share market, the newspaper said.

According to its annual report, the company realized revenue of 11.63 billion yuan – up 20.3 percent from a year earlier. Its net profits increased by 17.13 percent year-on-year to reach 5.05 billion yuan.