China Mobile’s (0941) net profit grew 5 percent to 131.8 billion yuan (HK$145.14 billion) in 2023 over a year earlier, and said it would raise the dividend payout ratio to over 75 percent in three years.
The world’s largest mobile operator declared a final dividend of HK$2.4 per share, bringing the total dividend to HK$4.83, up 9.5 percent from a year ago. The dividend payout ratio stood at 71 percent, higher than its target set in 2022.
The company is particularly conscientious about “generous” dividends, chief financial officer Li Ronghua said.
The dividend yield was 7.2 percent based on yesterday’s closing price of HK$66.85.
Earnings before interest, tax, depreciation, and amortization last year amounted to 341.5 billion yuan, up by 3.7 percent year-on-year.
Operating revenue expanded 7.7 percent to 1 trillion yuan, with digital transformation revenue as “the strongest driver.”
The digital transformation revenue jumped 22.2 percent to 253.8 billion yuan, accounting for 29.4 percent of the telecommunications services segment, which recorded 863.5 billion yuan in revenue, an increase of 6.3 percent.
The total number of mobile customers rose by 15.99 million to 991 million with the number of 5G package customers up by 180 million to 795 million.
The average revenue per user per month for mobile services inched up by 0.6 percent yearly to 49.3 yuan.
The telecommunications company’s free cash flow grew 29.2 percent to 123.5 billion yuan as capital expenditure was reduced by 2.6 percent to 180.3 billion yuan.
It projected a 4 percent decline in capital expenditure this year.
Hong Kong United Times丨香港聯合時報丨HKUT 