Jinwu Financial News | According to HSBC Global Research and Development Report, CLP Holdings' (00002) dividend for the first quarter remained flat at HK$0.63, which was flat year on year, in line with the bank's expectations. In terms of the Hong Kong market, the first quarter showed expected elasticity. The return to shareholders was fixed at 8%, but due to improved electricity demand, electricity sales in Hong Kong increased by 3.7% per year, as expected. Because improvements in Energy Australia (EA) should benefit CLP's overall capital and cash management, thereby providing upward potential for future dividends.
The bank raised the target price of CLP Holdings by 2.7% from HK$75 to HK$77, maintaining a “buy” rating.