Huawei employee shareholders rewarded with £7.3bn in dividends
Huawei’s employee shareholders have been rewarded with 61.404 billion yuan (£7.3bn) worth of dividends, according to a regulatory filing.
The Chinese technology heavyweight has not disclosed dividend distribution, but some 131,500 current and former workers are involved with the scheme.
It comes as Huawei swallows its first revenue dip on record, with the figures slipping nearly a third to 636.8 billion Chinese yuan (£76.2bn).
Chief Financial Officer Meng Wanzhou cited US sanctions, “supply continuity challenges” and slowing demand for 5G in China as the key drivers for this fall.
More than a year ago, analysts pegged the tech firm to be set for a year of transition, amid a “technological Cold War”, which has continued into the new year.
American curbs on Huawei have restricted the tech maker from using Alphabet’s Android for its new smartphone range, as well as limiting its access to other US services.
Meanwhile, UK telecoms providers are also in the process of removing Huawei from its 5G networks following the government’s announcement in July 2020.