Ooil Sinks To Over 3: month low on weak results, lower dividend

Orient Overseas (International)

22/03/2024 03:53

** Shares of container transport group Orient Overseas
(International) Ltd  0316.HK  (OOIL) drop 17.8% to HK$98.40,
their lowest since Dec 15
    ** Stock marks the biggest one-day drop since May 24, 2023;
biggest pct loser in Hang Seng Index  .HSI , Hang Seng Commerce
& Industry Index  .HSNC  and Hang Seng Composite Index  .HSCI  
    ** Co says it 2023 net profit dropped 86% YoY to $1.37 bln
with revenue down 58% to $8.3 bln
    ** Co proposes a final dividend of $0.145 per share and a
second special dividend of $0.036 each, as compared to $2.61
final dividend and $1.95 second special dividend in 2022  
    ** Hang Seng Commerce & Industry Index  .HSNC  drops 3.1%,
Hang Seng Composite Index  .HSCI  falls 2.6% and Hang Seng Index
 .HSI  down 2.7%
    ** Stock down 6.4% YTD  

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))