HK's Power Assets hits record high on special dividend

Power Assets Holdings

16/03/2018 05:36

** Shares of Power Assets Holdings Ltd  0006.HK  rise as much as
7.3 percent to record high at HK$73.95
** The energy and utility company posts a 30 percent rise in
2017 profit at HK$8.32 billion ($1.06 billion), and declares
one-off special dividend of HK$6 per share and a final dividend
of HK$2.03 each to shareholders  urn:newsml:reuters.com:*:nFWN1QX17V
** As of 0523 GMT, about 10.54 million shares of the utility
company have been traded, compared with 30-day moving average of
4.56 million shares a day
** Among the 13 analysts that cover Power Assets, the current
average rating on the shares is "hold"; the breakdown of
recommendations is 2 "strong buy" or "buy", eight "hold" and
three "sell" or "strong sell". The analyst mean price target is
HK$70.08
** Hong Kong benchmark index  .HSI  eases 0.1 percent

($1 = 7.8434 Hong Kong dollars)

 (RM: donny.kwok.thomsonreuters.com@reuters.net)