Jardine Matheson Targets 5% Dividend Growth to 2030, Launches US$500 Million Buyback
Updated
Updated · The Business Times · Jun 16
Jardine Matheson Targets 5% Dividend Growth to 2030, Launches US$500 Million Buyback
1 articles · Updated · The Business Times · Jun 16
Summary
Jardine Matheson said it will raise dividends by at least 5% a year through 2030 and start a US$500 million share buyback, setting out the pledges at its first Investor Day in Hong Kong.
The targets underpin a shift from its traditional owner-operator model toward a return-focused investment company, with management aiming for at least 9% annual total shareholder returns over the next five years.
JMH also plans to recycle at least US$4 billion from its portfolio, excluding Hongkong Land and Astra commitments, and add at least US$200 million in profit through inorganic acquisitions.
Future investments will focus on controllable or joint-controlled Asia-Pacific businesses that can scale, use technology including AI, and reach more than US$100 million in profit in under five years.
Shares fell 3.7% to US$63.55 on Tuesday as the conglomerate, whose portfolio includes DFI Retail and privatized Mandarin Oriental, outlined the strategy.