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Brief Tech, Media & Telecom

Huawei pays out dividends to staff

Embattled telecoms equipment maker Huawei Technologies paid out dividends of RMB 61.4 billion ($9.65 billion) to both retired and current staff in its employee shareholder scheme, reports the South China Morning Post. Some 131,507 current and former workers are involved in the shareholder scheme, according to the company’s 2021 annual report released last week.

Huawei is 100% owned by employees, including its founder Ren Zhengfei. The staff shareholding structure, most famously practiced by the UK department store chain the John Lewis Partnership, turns eligible employees into stakeholders.

Huawei is owned by a holding company called Huawei Investment & Holding, with two shareholders: Ren with 0.94%, and an entity called the Union of Huawei Investment & Holding, which holds the remaining 99.06% on behalf of eligible employees.

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