PCCW paves the way for dividend

26 Apr 2004

PCCW has announced plans to write off its USD152 billion accumulated losses using part of the HKD174 billion in its share premium account, in a move which would enable it to hold its first dividend. The company has reported net losses since writing off billions of dollars of goodwill from its merger with Cable & Wireless in 2000, and has come under increasing pressure from investors to begin making dividend payments. The company said it hopes to begin the dividend process by the end of this year.

Hong Kong, PCCW Group