China Satcom boosts shareholder returns despite revenue dip
China Satellite Communications (SSE:601698) announced its 2024 profit distribution plan, proposing a cash dividend of CNY 0.0323 per share, totaling CNY 136.44 million, representing 30% of the year's net profit attributable to shareholders. This distribution signifies a higher payout ratio compared to previous years despite a slight revenue decrease. The company reported operating revenue of CNY 2.541 billion for the year, a dip of 2.85% compared to operating revenues of 2.615 billion of the year prior, and net profit of CNY 454.49 million, a 30.31% increase YOY. The company attributes this to the year being able to claim CNY 115.48 million in insurance revenue.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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