By Joanne Chiu
Power Assets Holdings Ltd. (0006.HK) is considering paying a special dividend.
The cash-rich utility investor, owned by Hong Kong billionaire Li Ka-shing, said Monday that it will decide whether or not to declare a special interim dividend of 5.00 Hong Kong dollars ($0.64) per share on January 26 for the financial year ended December 2016.
The possible special dividend comes as a consortium comprising Cheung Kong Infrastructure Holdings Ltd. (1038.HK), Power Assets and Cheung Kong Property Holdings Ltd. (1113.HK) announced that it offered US$5.48 billion for 100% of Australian utility Duet Group (DUE.AU).
The potential special dividend also comes amid mounting pressure from minority shareholders, who have demanded the company to return some of its idle cash if it doesn't expect to make any sizeable investments in the near term. The company had HK$68 billion in cash on hand as of the end of 2015.
Write to Joanne Chiu at firstname.lastname@example.org
(END) Dow Jones Newswires
January 15, 2017 19:48 ET (00:48 GMT)
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