Mobile World Investment to halve dividends to ensure cash flow

Monday, Aug 16, 2021 15:57

Mobile World stores are closed amid pandemic control measures. — Photo

Mobile World Investment Corpo (MWG) has decided to halve the cash dividend rate paid to shareholders this year to five per cent, equivalent to VND5,000 a share.

In a statement, the company said its priority is to ensure cash flow for business activities amid the complicated COVID-19 pandemic. With more than 475 million outstanding shares, the company will save VND237 billion (US$10.3 million).

Current social distancing restrictions, especially in the entire southern region and Ha Noi, are affecting the operations of nearly 2,000 mobile and electronics stores. At the end of June, MWG reported total revenue of VND62.5 trillion, up 12 per cent year-on-year. In the second quarter alone, MWG achieved a revenue of VND32 trillion, up 20 per cent. — VNS

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