Full-Year Results a Slight Beat, Evolving Risk Profile Because of More Development Properties
Hongkong Land achieved underlying 2018 earnings of $1.04 billion, up 9% year on year. The results are slightly better than our estimate of $1.02 billion. The company announced a full-year dividend of $0.22 per share, up 10% from a year ago. The dividend increase was large, but as expected with the dividend payout ratio near 50%, similar to last year. Management reiterated that the company will not aim to hike its dividend aggressively, given the available investment opportunities around the regi...Hongkong Land Holdings is a member of the Jardine Matheson Group. Co. is a property investment, management and development group in Asia. Co. owns and manages almost 800,000 sq. m. of office and retail property in Asian cities, principally in Hong Kong and Singapore. Co. has two operating segments: Commercial Property and Residential Property.
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