CMHK cuts dividend for 3G cash pot

19 Aug 2004

China Mobile Hong Kong (CMHK) has explained that its lower than expected dividend for the first half of the year is necessary because it needs to keep funds in reserve should the government decide to press ahead with 3G licensing. CMHK yesterday announced a dividend of 20 Hong Kong cents a share, up from 16 cents last year, but with a lower ratio to its posted profit. The on-off issue of 3G licensing has been dragging on for some time now, but CMHK wants to be prepared should an auction take place before the end of the year.

China, China Mobile