Momo.com Inc (富邦媒體), the nation’s leading online and TV retailer, yesterday said that its board of directors has approved a proposal to distribute a cash dividend of NT$8.5 per common share, suggesting a payout ratio of 85.17 percent based on earnings per share of NT$9.98.
The company’s net profit contracted 3.85 percent from a year earlier to NT$1.39 billion (US$45.9 million) last year, which Momo.com said was mainly due to a one-time tax benefit it received in 2018.
Otherwise, it would have reported a 14.3 percent year-on-year increase in net profit, the company said.
Consolidated revenue last year soared 23.4 percent to a record high of NT$51.83 billion thanks to an 80 percent surge in sales during the Double 11 Singles’ Day shopping promotion, as well as an increase in traffic across its multiple online platforms, which accounted for 87.7 percent of the firm’s sales.
The company’s online shopping platforms are more popular among women, as about 68 percent of consumers are women aged 25 to 54, company data showed.
By product, more than 40 percent of the company’s revenue last year was generated from online sales of consumer electronics and home appliances, while 30 percent came from sales of household goods and decorations, 16 percent from sales of cosmetics and health products and 12 percent from fashion items, company data showed.
The company said it expects to pay cash dividends totaling NT$1.19 billion this year, which is subject to approval by shareholders on May 15.
Meanwhile, PChome Online Inc (網路家庭) plans to issue a cash dividend of NT$0.7 per share, which would represent a payout ratio of 50.36 percent if approved by shareholders at an annual meeting scheduled for June 24.
The company swung back into the black last year with net profit of NT$162.44 million, translating into earnings per share of NT$1.39.
PChome attributed its turnaround from losses of NT$994.64 million for 2018 to robust sales across its online channels — especially its auction site Ruten.com (露天拍賣), which saw a surge in popularity, as well as a 40 percent year-on-year growth in sales through its mobile application.
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