Power Assets Holdings Declares HKD 5.00 Special Dividend; Our Fair Value Estimate is Unchanged
Narrow moat-rated Power Assets Holdings’ Board of Directors approved a HKD 5.00 special dividend that will be paid on Feb. 28. This special dividend has been long discussed and anticipated given the company’s sizable net cash position and seemingly limited acquisition opportunities. Even with the expected purchase of a 20% stake in Australian utility Duet Group, which is pending regulatory approval, for AUD 1.46 billion (HKD 8.3 billion), Power Assets, or PAH, will still be sitting on net cash o...
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