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...CK Hutchison Holdings is an investment holding group based in Hong Kong. Co.'s businesses encompass such diverse areas as property development and investment, real estate agency and estate management, hotels, telecommunications and e-commerce, finance and investments, retail, ports and related services, energy, infrastructure projects and materials, media, and biotechnology. Co.'s core business are organized along four segments: Property (sales, leasing, property management and development); Hutchison Whampoa (ports, property and hotel, retail, infrastructure, energy and telecommunications); Life Sciences (health and agriculture related products) and Other Investments.
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