CLP Warns of First-Half Net Loss as EnergyAustralia Losses Mount

With a regulated return from its Hong Kong utility business making up more than 60% of the total operating profit, CLP has been able to enjoy stable cash flows that allow it to keep annual dividend growth of 2% over the past decade, which we think is ultimately maintainable. This is likely to support a stable share price, and CLP has a relatively decent dividend yield of around 4% presently.