Infotech firm HKBN posts record drop as dividend dips

HKBN

28/10/2022 06:18

** Shares of information and communications technology (ICT)
services provider HKBN Ltd  1310.HK  drop as much as 20.6% to
HK$4.63, lowest level and biggest daily pct drop since debut in
March 2015
    ** Stock is the biggest pct loser in Hang Seng Composite
Index  .HSCI  
    ** Company posts 1% year-on-year growth in revenue for year
ended in August with EBITDA up 2%  urn:newsml:reuters.com:*:nFWN31S2X1
    ** Says to pay a final dividend of HK$0.20 per share as
compared with HK$0.375 each in the previous year, resulting in a
22% year-on-year decrease for the full year payment of HK$0.60
per share against HK$0.765 cents per share a year ago
    ** Hang Seng sub-index on information technology firms
 .HSCIIT  drops 4.6%, Hang Seng Composite Index  .HSCI  falls
2.4% and Hang Seng Index  .HSI  is down 2.3%
    ** As of last close, the stock had fallen 39.1% this year
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))