Huawei pay dividends of $9.65 bn to current and retired workers

Huawei Technologies has paid out dividends totalling 61.404 billion yuan ($9.65 billion) to current and retired workers in its employee shareholder scheme.
Some 131,507 current and former workers are involved in the shareholder scheme, according to Huawei’s 2021 annual report released last week. The company is private and wholly owned by its employees.

Huawei’s filing with the Shanghai Clearing House, published on Saturday, does not break down the dividend distribution.

Huawei’s full-year revenue decreased 29 percent last year to 636.8 billion yuan.

Net profit jumped by 76 percent to 113.7 billion yuan, mainly due to the sale of its budget-brand smartphone unit Honor and server businesses.

The United States imposed a series of trade restrictions on Huawei throughout 2019 and 2020, citing national security concerns.

Guo Ping, Huawei’s rotating chairman, said last week that the company hopes to find a solution to sustain its smartphone division and will ramp up investment in research seeking microchip breakthroughs after losing access to certain advanced technologies because of U.S. sanctions.