Dividends Paid in the Past
In the last five financial years Huuuge, Inc has not paid any dividends from the net profit.
Huuuge, Inc has no dividend policy. The Board of Directors may from time to time declare dividends out of the surplus of the company and may, subject to the provisions of the Bylaws and the Certificate of Incorporation, fix dates for the declaration and payment thereof. No dividend is payable other than in accordance with the applicable provisions of Delaware law. A resolution regarding the distribution of profits and the payment of dividends is not adopted by the General Meeting.
The Board of Directors does not plan to pay any dividends for 2020 and instead plans to use cash from the issuing the new shares, which took place in the February 2021 public offering and the operational cash flows for potential acquisitions. Similarly, the Board of Directors has not made any decision regarding the payment of dividends or the value thereof, if any, for any period after 2020.
We operate in a rapidly growing industry, and in order to capitalize on this, we need to prioritize growth activities, in particular, potential acquisitions. The actual payment of future dividends, if any, and the amounts thereof, will depend upon a number of factors including, but not limited to, acquisition opportunities, the amount of our unconsolidated distributable reserves, our earnings, our level of profitability and financial condition, capital requirements, applicable restrictions on the payment of dividends under Delaware law and such other factors as our Board of Directors may deem relevant. Accordingly, our ability to pay dividends in the future may be limited.
Our Board of Directors reserves the authority to change the dividend policy at any time. For example, we may decide not to pay out any dividends in the future. This might happen especially if unexpected events occur that would change our view as to the prudent level of cash and capital conservation as well as our financial goals and strategy.