Hutchison Whampoa and Cheung Kong, billionaire Li Ka-shing’s Hong Kong flagships, are to pocket $2.7bn after a telecommunications unit announced a hefty special dividend due to “the lack of suitable investment opportunities”.

Hutchison Telecommunications International (HTIL), which sold its Indian arm to Vodafone for $10.9bn in 2007, said it would pay shareholders a cash dividend of HK$33.7bn ($4.35bn), or HK$7 per share, next month.