Huawei is planning to reward all the shareholders of the company with around 3% increment in the dividends which turns to be in billions of dollars; based on the calculations made by the company as well as the Reuters.
Huawei is planning billions in Dividends for the staffs in spite of the row with the US.
This move was taken by China’s Huawei to boost up company’s morale; to have an upper hand in the competition against the US telecom gears. This calculated move is taken to display Huawei’s profit as well as boost up their confidence; against all the US acquisitions of espionage against Huawei’s technology.
Huawei has stated proudly that almost 80,000 workers are in possession of the company’s complete shares.
Hows the move of billions in Dividends working?
Six shareholders of Huawei provided information to Reuters stating; that the dividend cost per share is expected to increase from 1.02 yuan to 1.05 yuan; for the year 2018.
The shareholders also added that the total returns per share have decreased from 7% to 2.61 yuan. They also added that a stock split of around 1-1.56% will be done for the year 2108.
One of the spokesman of Huawei, the world’s leading telecommunication equipment maker. And also the 2nd largest smartphone maker; stated that it is against the company’s rules to declare about their dividend policies publicly.
Huawei announced in December; about their expected rise in 2018 revenue to 21 % viz. around $109 billion.
The payout comes along with the charges made by Washington; urging the government around the globe to ban the use of Huawei’s gear; especially the 5G enabled gears.
Further allegations were made by the US against Huawei for fraud sanctions made against Iran. The charges were made against Meng Wanzhou, daughter of Huawei’s founder president Ren Zhengfei and Huawei’s CFO; stating to extradite her from Canada.
However, Huawei denied all the security charges made against them. On the other hand, Meng too stated that she was innocent of the crime.
Security times, which is owned by the state; made their report about Huawei’s stock split and outstanding shares. The calculations showed that around 20.3 billion shares are outstanding; which are equivalent to a dividend of 23.1 billion yuan (around $3.2 billion).
Huawei’s employees are required to work on the last Saturday of each month; howbeit double pay. The sources further stated that the cash dividend can be equal to the annual pay or even more.