Jardine Matheson Posts 2020 Loss But Maintains Dividend
March 11 2021 - 7:10AM
Dow Jones News
By Jaime Llinares Taboada
Jardine Matheson Holdings Ltd. on Thursday reported a loss for
2020 but maintained its dividend.
The Asian conglomerate posted a net loss for the year of $394
million, swinging from a $2.84 billion profit in 2019
Revenue fell 12% to $90.91 billion, and underlying pretax profit
decreased 40% to $2.79 billion.
The company's net asset value at Dec. 31 fell to $81.32 a share
from $81.90 at the same date in 2019.
The board declared a final dividend of $1.28 a share, taking the
total payout to $1.72, in line with 2019.
"Maintaining the dividend demonstrates the board's confidence in
the long-term strength of the group's underlying businesses,"
Executive Chairman Ben Keswick said.
In a separate release, Jardine Strategic Holdings Ltd. posted a
net loss of $863 million for 2020. Jardine Matheson owns 85% of
Jardine Strategic and recently said it plans to purchase the
remaining stake for around $5.5 billion.
Write to Jaime Llinares at jaime.llinares@wsj.com
(END) Dow Jones Newswires
March 11, 2021 06:55 ET (11:55 GMT)
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