Jardine Matheson Posts 2020 Loss But Maintains Dividend

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 [e-mail]

(END) Dow Jones Newswires

March 11, 2021 06:55 ET (11:55 GMT)

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