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Huawei Plans Lowest Dividend Payout per Share since 2019

BEIJING, April 2 (Reuters) - Huawei Technologies' parent company plans to pay 77.095 billion yuan ($10.65 billion) in dividends to current and retired staff, it said in a Shanghai Clearing House filing on Tuesday.

That suggests Huawei Investment and Holding Co (HWT.UL), with roughly 51.3 billion shares outstanding, would pay a cash dividend of 1.5 yuan per share, the lowest since 2019, Reuters calculations and checks of previous dividend payout plans showed.

A total of 151,796 current and former workers had been involved in the shareholder scheme as of end-December, according to the company's 2023 annual report released last week. The company is private and wholly owned by its employees, it said.

The Tuesday filing did not break down the dividend distribution. It also did not specify the period it relates to though normally that would relate to last year.

Huawei Investment and Holding Co's revenue rose nearly 10% last year, with the consumer business being a major contributor. The Shenzhen-based conglomerate shrugged off U.S. sanctions with shipments of 5G versions of flagship models like iPhone rival P60.

The United States has since 2019 restricted Huawei's access to U.S. technology, accusing the company of being a security risk, which Huawei denies.

($1 = 7.2359 Chinese yuan renminbi)

Reporting by Qiaoyi Li and Brenda Goh; Editing by David Goodman and Emelia Sithole-Matarise

Source: Reuters

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