Swire Pacific is proposing a special interim dividend from the proceeds of its sale of shopping centre and office complex Festival Walk to reward shareholders.
The conglomerate, with interests in property, aviation, and shipping, said it had completed the sale of its 100 per cent interest in the Kowloon Tong shopping mall to Mapletree for HK$18.8 billion - the largest property transaction yet in Hong Kong.
Swire expects to generate an underlying profit of HK$8.61 billion from the sale and yesterday announced a special interim dividend of HK$3 per A share and 60 cents per B share.
Together with last Thursday's announcement of an interim dividend of HK$1.15 per A share and 23 cents per B share, total distribution has been raised to HK$4.15 per A share and 83 cents per B share for the six months to June 30.
Group chairman Christopher Pratt said the proceeds from the sale would put the group in a strong position to continue with its major investment programmes. These include Swire Properties' developments in Hong Kong and on the mainland, and substantial investments by Swire Pacific Offshore in oil, gas, and alternative energy industries.
In the first half of this year, Swire Pacific Offshore committed to purchasing 27 vessels and its capital commitments totalled HK$14.7 billion as at June 30.
