Shares in Hong Kong developer Henderson Land are among the only gainers in Hong Kong today in the wake of the company’s decision to conduct a bonus share issue.
Shares were up 2 per cent in morning trade, making the stock one of only three to gain on Wednesday morning as the benchmark Hang Seng dropped 1.3 per cent.
(The others were Hong Kong and China Gas, up 0.5 per cent, and Link Reit, up 0.1 per cent.)
The developer on Tuesday reported revenues for the 2017 financial year rose 8.2 per cent to HK$26.6bn, with net profit up 2.8 per cent at HK$21.9m and the board recommending a dividend of HK$1.13 per share.
The company also proposed a bonus issuance of one share per ten held by investors, as it had for the previous four years.