Euro Tech Holdings Company Limited (CLWT) stock announced a special cash dividend today on June 18, 2021, after which the CLWT stock price saw a push of 3.25% to reach $3.36 a share at the time of this writing. The stock is engaged in the distribution of water treatment equipment, laboratory-related accessories in the People’s Republic of China. Let’s discuss the recent event of CLWT stock in detail.
Euro Tech’s board of directors announced the dividend of $0.20 per ordinary share for shareholders who are under the list of shareholders as of June 28, 2021. The dividend will be paid in cash on July 06, 2021. American Stock Transfer and Trust LLC is appointed as the paying agent to administer the dividend process and no action is required by a shareholder to receive the dividend.
Financial Year 2020 Results:
Back to the previous month, Euro Tech announced the fiscal year 2020 results the highlights of which are given below.
- The net income for CLWT stock in the fiscal year 2020 was US$769,000 as compared to US$146,000 net loss in 2019.
- The revenue of the CLWT stock for the fiscal year reduced by 23.2% yearly from US$17,399,000 in 2019 to US$13,357,000 in 2020. The decrease in the revenue was mainly due to COVID-19 escalation and the China-US tension in trade.
- CLWT stock reported US$3,685,000 gross profit for the fiscal year 2020 which represents a 16.6%decrease as compared to gross profit of US$4,417,000 for 2019.
- Euro-Tech spent US$5,374,000 in selling and administrative expenses in the year 2020 which represents a 10.7% increase.
- The operating loss suffered by CLWT stock reached US$1,701,000in the 12-month period of 2020, 41.5% higher than the US$440,000 operating loss in the fiscal year 2019.
As of December 31, 2020, Euro Tech had cash and short-term investments of $3.52 million as compared to $5.99 million cash and short-term investments by the end of 2019.
Ballast Water Treatment Systems (BWTS):
Euro tech stock secured 4 sales contracts for BWTS along with some other port solutions in China in the last six months. Now the CLWT stock is near to complete the deal of supplying 8 sets of BWTS to ship owners in the Middle East and Southeast Asia.
The announcement of a special cash dividend made the CLWT stock bullish today. The business was affected due to coronavirus escalations but as things are going back to normal, one should expect positive growth for CLWT stock.