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ZTE swings to profit in 2017, raises dividend

ZTE Corp.'s total comprehensive income attributable to ordinary shareholders was 4.67 billion Chinese yuan in 2017, compared to a loss of 2.50 billion yuan in the previous year.

Diluted earnings per share came in at 1.08 yuan in 2017 as opposed to a diluted loss per share of 0.57 yuan in 2016.

The communication equipment company recorded 108.82 billion yuan in operating revenues for 2017, up from 101.23 billion yuan in the previous year. Operating profit rose to 6.75 billion yuan in 2017 from 1.17 billion yuan in the prior year as ZTE recorded 3.02 billion yuan in government grants related to its operations in 2017.

The company plans to propose a profit distribution of 3.3 yuan in cash for every 10 shares, and the dividend is payable June 29 for the 2017 year. The cash dividend was 2.5 yuan per 10 shares for 2016.

As of March 26, US$1 was equivalent to 6.27 Chinese yuan.