Jardine Matheson set 5% dividend growth, launched $500 million buyback
What's new: The conglomerate also targeted at least 9% annual shareholder returns and plans to recycle $4 billion from its portfolio by 2030.
Jardine Matheson set a target to lift its dividend by at least 5% a year through 2030 and started a $500 million share buyback as it mapped out a new investor strategy at its first Investor Day in Hong Kong on Tuesday. The group is shifting from a traditional owner-operator model toward a return-focused investment company. It also set goals of at least 9% annual total shareholder returns over the next five years, at least $4 billion of portfolio capital recycling excluding Hongkong Land and Astra commitments, and at least $200 million in added profit through acquisitions. CEO Lincoln Pan said Jardine will focus on market-leading Asia-Pacific businesses where it can hold control or joint control. The stock rose 4.3% Monday to close at $66.