Hang Lung Group: Thoughts On HLP's Scrip Dividend

Apr 17, 2024

∙ Paid

And eagle-eyed reader spotted Hang Lung Properties (101 HK)'s scrip dividend option for the FY23 final dividend. That's the first time HLP has provided this alternative.
Over the years, the Chan family and Hang Lung (10 HK) have chipped away at HLG's and HLP's minorities. HLP and HLG are currently trading at all-time low P/Bs.
This scrip dividend, which takes a page out of Jardine Matheson (JM SP)'s playbook, would boost HLG's stake in HLP to ~63% from 61.24% currently; if opting only for scrip.

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