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Updated April 2nd, 2024 at 18:46 IST

Huawei plans $10.65 bn dividend payout to staff, lowest since 2019

With approximately 51.3 billion shares outstanding, this translates to a cash dividend of 1.5 yuan per share.

Reported by: Business Desk
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Huawei plans $10.65 bn dividend payout to staff, lowest since 2019 | Image:Huawei
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Huawei dividend payout: Huawei Technologies' parent company, Huawei Investment and Holding Co, intends to pay 77.095 billion yuan ($10.65 billion) in dividends to current and retired staff, according to a filing with the Shanghai Clearing House on Tuesday.

With approximately 51.3 billion shares outstanding, this translates to a cash dividend of 1.5 yuan per share, the lowest since 2019.

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As of end-December, a total of 151,796 current and former workers were involved in the shareholder scheme, as disclosed in the company's 2023 annual report released last week. Huawei is privately held and wholly owned by its employees.

While the filing did not provide a breakdown of the dividend distribution or specify the period it relates to, Huawei Investment and Holding Co saw its revenue rise nearly 10 per cent last year, with significant contributions from the consumer business. Despite US sanctions imposed since 2019, Huawei has managed to maintain strong performance, particularly in the 5G smartphone market with models like the P60.

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The US restrictions stemmed from accusations of Huawei being a security risk, which the company has consistently denied.

(with Reuters inputs)

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Published April 2nd, 2024 at 18:46 IST

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