China Telecom raises payout ratio

Finance | Staff reporter 22 Jun 2021

Shares of China Telecom (0728) rose 11.16 percent to HK$2.59 yesterday after the mainland state-owned telecom giant announced that it planned to raise its dividend payout ratio to 70 percent.

China Telecom said it will distribute no less than 60 percent of its net profit as cash dividends for this year, and will gradually increase the payout ratio to 70 percent or above within three years of its A-share listing.

The dividend payout ratio rose 1.62 percentage points to 49.31 percent in 2019 but fell by 0.78 percentage points to 48.52 percent in 2020.

China Telecom said in March that it plans to sell up to 12.09 billion shares on the Shanghai Stock Exchange, or 13 percent of the enlarged capital base, to broaden its financing channels.

Meanwhile, China Mobile (0941) said that the number of mobile customers reached 942.78 million in May, up 0.1 percent from a month before. The number of 5G package customers rose by 8.11 percent to 221.95 million in May.

Separately, China Unicom (Hong Kong) (0762) said the aggregate number of mobile billing subscribers inched up by 0.08 percent to 309.72 million in May from a month before. The aggregate number of 5G package subscribers rose by 7.63 percent to 106.094 million in May.

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