Alibaba Group Holding Ltd (NYSE:BABA) stock fell 1.62% (As on November 17, 11:30:04 AM UTC-4, Source: Google Finance) after the company said it would not proceed with the full spinoff of its cloud group due to U.S. chip export restrictions. The U.S. barred sales of Nvidia’s advanced artificial intelligence-focused H800 and A800 chips in October. Alibaba also announced in a regulatory filing that the family trust of founder Jack Ma was planning to sell down its stake in the business, selling 10 million shares for $870.7 million in cash. The decision to walk back its cloud unit spinout marks a hitch in Alibaba’s plan to reorganize into six individual business units — one of the most radical shake-ups in the company’s history. Alibaba had earlier announced it would put on hold plans to list its Freshippo retail chain for groceries “as we evaluate market conditions and other factors.” The company still intends to list its Cainiao smart logistics division in Hong Kong.

Alibaba reported net income attributable to shareholders of 27.7 billion yuan ($3.8 billion) for the September quarter, below the 29.7 billion yuan expected by analysts. Revenue met expectations, however, coming in at 224.79 billion yuan, up 9% year over year. The company ended the quarter with $63 billion in net cash, and it has generated $27 billion in free cash flow in the last 12 months.

Meanwhile, the company also announced it will issue its first-ever annual cash dividend in 2023. In the release, Alibaba said that its board of directors had approved an annual $0.125 per ordinary share or $1 per American depositary share cash dividend for the fiscal year. The aggregate amount of the dividend will be roughly $2.5 billion. Alibaba will pay the sum out to investors at the close of business on Dec. 21, 2023, Hong Kong time and New York time, respectively.

Further, Cainiao, one of the remaining divisions still pursuing an IPO, saw “relatively rapid growth this quarter,” and that the business was continuing to focus on building out its global smart logistics network. He outlined a three-year plan for the unit, including scaling up investment in technology, seeking growth in cross-border e-commerce and growing its international business. Alibaba said it recorded healthy year-over-year growth in users of its Taobao and Tmall domestic online shopping sites, however. The two sites saw positive year-over-year order growth during the annual 11:11 Chinese shopping holiday.