Swire Pacific Lifts First-Half Dividend, Launches Share Buyback

Swire Pacific performed well in the first half despite its three core businesses in property, beverages, and aviation being hampered by the lockdowns and continued border closures in Hong Kong. First-half underlying profit was HKD 1.7 billion, compared with HKD 1.3 billion the same period last year. A more positive outlook sees the group launch a HKD 4 billion share buyback and lift its first-half dividend by 15% to HKD 1.15 per A share, and HKD 0.23 per B share. The share buyback will be balanced across both A shares and B shares, but management noted lower market liquidity for the B shares.