Date: May 29, 2019
By: Crystal Hsu / Staff reporter
Huaku Development Co (華固建設) could see its revenue jump this year with profits from three luxury residential projects, senior company officials said yesterday.
The Taipei-based company gave the guidance on the sidelines of its annual shareholders’ conference that gave its go-ahead to plans to distribute NT$5 per share in cash dividends from earnings per share of NT$3.12 for last year.
The payout rate exceeds 100 percent, a practice that is not uncommon among Taiwanese developers and reflects the company’s positive earnings outlook for this year.
The three projects might generate NT$17.2 billion (US$456.31 million) in revenue upon their completion later this year, Huaku general manager Carson Hung (洪嘉昇) told reporters. [FULL STORY]