Hongkong Land Full-Year Results in Line; Expansion in China to Drive Future Earnings
Hongkong Land achieved underlying 2017Â earnings of USD 970 million, up 14% year on year. The results are in line with our estimates. The company announced a full-year dividend of USD 0.20 per share, up 5% from a year ago. The dividend payout ratio was below 50%, a departure from the trend seen during the past few years. Management stated that the company will not hike its dividend aggressively, given the available investment opportunities. During the year, the company entered several new project...
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