Yang Huiyan, the chair of Country Garden Holdings Co., will receive about 160.2 million yuan (US$22 million) in dividends from her direct stake in Country Garden Services Holdings Co. A family foundation she transferred more than half of her stake to in July will bag 198.7 million yuan.

Country Garden Services reported an 85% slump in net income for 2023 on Wednesday, missing analyst estimates. Yet the company still declared a 2.19 yuan cents dividend per share and a special payout of 27.27 yuan cents per share, “a token of appreciation to all shareholders for their continuous support and trust,” the company said in a statement.

Country Garden, once China’s biggest developer, is among the builders that have been engulfed in the nation’s property crisis, denting Yang’s empire.

Its woes entered a new phase in February, when a Hong Kong court received a creditor’s petition to wind up the company. Earlier this month, it missed a coupon payment on a yuan bond for the first time after defaulting on its dollar debt in October.

The downfall has pushed Yang’s fortune to US$4.4 billion from a peak of US$34 billion in 2021, according to the Bloomberg Billionaires Index. Once the richest woman in her country — and in Asia — she no longer ranks among the 500 wealthiest people in the world.

Country Garden has already defaulted on US$11.9 billion in debt, according to data compiled by Bloomberg. Still, Yang has given “strong support” to Country Garden since its listing in 2007, the firm said in a Hong Kong exchange filing in August.

Together with family members, she provided about HK$38.6 billion (US$4.9 billion) through measures including loans and the acquisition of shares and bonds, the document noted at the time, without specifying further details.