[ET Net News Agency, 17 January 2018] Nomura Research lifted its target price for Sino
Land (00083) to HK$17.6 from HK$14.7, and upgraded its rating to "buy" from "neutral".
The research house sees increasing scope for an increase of recurring dividend and a
special dividend, amid ample cash on hand. Nomura estimated that a special dividend of
HK$0.83 per share could be declared in FY2018, which could lift full-year DPS to HK$1.35
per share, equating to a 9.6% FY2018 dividend yield.
It also likes Sino Land's upcoming launch at Kwun Tong, where Nomura expects a total
proceeds of HK$23.4bn with a 30% pre-tax margin. It expects the project to be launched in
phases during 2H CY2018-2020. (KL)