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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Apple Inc | NASDAQ:AAPL | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.9723 | 0.54% | 182.6823 | 182.68 | 182.69 | 184.8941 | 181.32 | 183.45 | 54,748,083 | 19:44:50 |
TAIPEI—Hon Hai Precision Industry Co., the primary assembler of Apple Inc.'s products, is considering Chinese listings for its mainland-based units over the next three to five years, its chairman said Thursday.
Speaking at an annual shareholder meeting Thursday at Hon Hai's headquarters in Taipei, Chairman Terry Gou said spinoffs will likely boost the valuation of its sprawling operations in China. He declined to offer more details of the plan.
Also at the meeting, Mr. Gou said despite Hon Hai's recent expansion plan in India, the company isn't planning to scale down its manufacturing operation in China, where the domestic consumer market is taking off.
Hon Hai, also known as Foxconn, has been spinning off its various component operations on the stock markets in Hong Kong and Taiwan. The latest was General Interface Solution Ltd., a touch panel display unit.
Hon Hai has made its name in the manufacturing industry as it assembles the majority of the world's consumer electronics, including Apple iPhones and iPads, Sony PlayStation game consoles and Sharp televisions. But the company also makes many sophisticated high-tech components used in automobiles and automated teller machines.
In the past two years, Hon Hai has successfully spun off several operations including industrial motherboard maker Ennoconn, the casing and mechanical component unit Eson Precision, the light-emitting diode component unit Advanced Optoelectronic and wireless chip packaging unit ShunShin Technology.
Also on Thursday, shareholders approved the company's plan to increase its 2014 dividend to 3.80 New Taiwan dollars a share from 1.80 New Taiwan dollars.
The payout represents 43% of profit, up from 22% in 2013 but still below the 60% average for Taiwan technology companies. BlackRock Inc., the world's biggest asset manager, last year privately called on Mr. Gou to increase the dividend by tapping the company's cash pile of roughly $22 billion, The Wall Street Journal reported in December.
Write to Lorraine Luk at lorraine.luk@wsj.com
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