CK Asset shares tumble on special dividend disappointment

CK Hutchison Holdings

14/08/2026 05:23

HONG KONG, Aug 14 (Reuters) - Shares of Hong Kong-based property developer CK Asset 1113.HK tumbled more than 7% on Friday as investors showed their disappointment that the company did not distribute interim special dividends despite gains from the sale of assets. 
CK Asset on Thursday reported a 5% increase in underlying profit to HK$6.6 billion ($841.1 million) in the first six months, which excluded HK$9.8 billion disposal gain of UK joint ventures, HK$6 billion associate impairment and other fair value drops.
The company stressed that macro uncertainties have called for a cautious and prudent approach.
"At times, personally, I would say we do feel quite helpless — how can one plan for the future, and run our businesses and project forward. It’s very, very difficult," said General Manager Gerald Ma. "So, we will manage our privileged position very carefully while we continue to look for ways to enhance value for shareholders."
The company said while the Hong Kong housing market has been supported by strong local and mainland China demand, momentum may slow if oil prices continue to be volatile and interest rates stay high or rise further.
CK Asset shares shed 7.3% as of 0345 GMT. The stock has gained 14% so far this year.
J.P. Morgan analysts said CK Asset delivering a 5% growth in interim dividend per share was already the most generous since 2021, and it is not a surprise that there is no special dividend given the company's cautious outlook.
Shares of sister company CK Hutchison 0001.HK also dropped more than 5%, after reporting a 6.7% rise in the underlying profit in the first six months to HK$12.6 billion.
The ports-to-telecom conglomerate also did not declare an interim special dividend despite disposal gains totalling HK$17.8 billion during the period.
CK Hutchison said on Thursday it is evaluating opportunities in realigning with other CK Group companies to enhance shareholder value.
($1 = 7.8465 Hong Kong dollars)

(Reporting by Clare Jim; Editing by Lincoln Feast.)
((clare.jim@thomsonreuters.com;))