Upcoming Dividend • May 19
Upcoming dividend of HK$1.88 per share Eligible shareholders must have bought the stock before 26 May 2026. Payment date: 10 June 2026. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 4.0%. Lower than top quartile of British dividend payers (5.7%). In line with average of industry peers (3.7%). Reported Earnings • Apr 17
Full year 2025 earnings released: EPS: HK$3.28 (vs HK$3.22 in FY 2024) Full year 2025 results: EPS: HK$3.28 (up from HK$3.22 in FY 2024). Revenue: HK$4.78b (down 14% from FY 2024). Net income: HK$8.27b (up 1.8% from FY 2024). Revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 3.8%. New Risk • Mar 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.008% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.008% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (429% cash payout ratio). Declared Dividend • Mar 20
Final dividend of HK$1.88 announced Shareholders will receive a dividend of HK$1.88. Ex-date: 26th May 2026 Payment date: 10th June 2026 Dividend yield will be 32%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (429% cash payout ratio). The dividend has increased by an average of 2.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 공시 • Mar 19
CK Infrastructure Holdings Limited Recommends Final Dividend for the Year 2025 The Board of Directors of CK Infrastructure Holdings Limited has recommended a final dividend of HKD 1.88 per share for the year 2025. Together with the interim dividend of HKD 0.73 per share, the total dividend for the year will amount to HKD 2.61 per share, representing an upward trajectory of continued dividend growth since listing. The proposed dividend will be paid on 10th June, 2026, subject to approval at the 2026 Annual General Meeting to those shareholders whose names appear on the Register of Members of the Company at the close of business on 27th May, 2026. Reported Earnings • Mar 18
Full year 2025 earnings released: EPS: HK$3.28 (vs HK$3.22 in FY 2024) Full year 2025 results: EPS: HK$3.28 (up from HK$3.22 in FY 2024). Revenue: HK$4.78b (down 14% from FY 2024). Net income: HK$8.27b (up 1.8% from FY 2024). Revenue is forecast to grow 4.7% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Electric Utilities industry in Europe. 공시 • Mar 18
CK Infrastructure Holdings Limited, Annual General Meeting, May 20, 2026 CK Infrastructure Holdings Limited, Annual General Meeting, May 20, 2026. 공시 • Mar 05
CK Infrastructure Holdings Limited to Report Fiscal Year 2025 Results on Mar 18, 2026 CK Infrastructure Holdings Limited announced that they will report fiscal year 2025 results on Mar 18, 2026 공시 • Jan 01
CK Infrastructure Holdings Limited Announces Appointment of Koh Poh Wah as Independent Non-Executive Director and Audit Committee Member, Effective January 1, 2026 CK Infrastructure Holdings Limited announced that Ms. Koh Poh Wah is appointed as an Independent Non-executive Director and a member of the Audit Committee of the Company with effect from January 1, 2026. Ms. Koh, aged 69, is an Independent Non-executive Director of Power Assets Holdings Limited, HK Electric Investments Manager Limited as the trustee-manager of HK Electric Investments, and HK Electric Investments Limited. Ms. Koh is also an Independent Non-executive Director of ESR Asset Management (Fortune) Limited, the manager of Fortune Real Estate Investment Trust. Ms. Koh has more than 30 years of working experience in the areas of operations management, technology, financial and business re-engineering. Ms. Koh was previously the Regional Accountant (Alpha Asia Pacific) of Alpha International, a non-profit organisation, from 2012 to 2015 in charge of the finance functions for Alpha Asia Pacific region, Alpha Singapore and AAP Publishing Pte. Ltd. Prior to this role she was a Director with Future Positive Pte. Ltd. working extensively on information technology and business re-engineering consultancy areas. Ms. Koh also worked for American International Assurance Co. Ltd. for 15 years during the period from 1986 to 2000, with her last position as Vice President - Quality Support & Operations Management. Ms. Koh holds a Master of Science in Management Science and Operational Research, a Bachelor of Arts Degree (Honours) in Accounting, and a Diploma from Institute for the Management of Information Systems (previously known as Institute of Data Processing Management, UK) and a Fellow of Life Management Institute (USA). Pursuant to the Company's Bye-laws, Ms. Koh will hold office until the next annual general meeting of the Company, and will then be eligible for re-election at such meeting. The term of Ms. Koh's service as an Independent Non-executive Director of the Company is subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the provisions of the Bye-laws of the Company. Upcoming Dividend • Sep 03
Upcoming dividend of HK$0.73 per share Eligible shareholders must have bought the stock before 10 September 2025. Payment date: 24 September 2025. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 4.9%. Lower than top quartile of British dividend payers (5.6%). In line with average of industry peers (4.6%). Declared Dividend • Aug 15
First half dividend of HK$0.73 announced Shareholders will receive a dividend of HK$0.73. Ex-date: 10th September 2025 Payment date: 24th September 2025 Dividend yield will be 18%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (409% cash payout ratio). The dividend has increased by an average of 2.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 14
First half 2025 earnings released: EPS: HK$1.73 (vs HK$1.71 in 1H 2024) First half 2025 results: EPS: HK$1.73 (up from HK$1.71 in 1H 2024). Revenue: HK$2.39b (down 15% from 1H 2024). Net income: HK$4.35b (flat on 1H 2024). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Electric Utilities industry in Europe. 공시 • Aug 13
CK Infrastructure Holdings Limited Declares Interim Dividend for 2025, Payable on September 24, 2025 The Board of Directors of CK Infrastructure Holdings Limited (the "Board") has declared an interim dividend for 2025 of HKD 0.73 per share (2024: HKD 0.72 per share), representing 1.4% growth over the corresponding period last year. The interim dividend will be paid on Wednesday, 24th September, 2025, to shareholders whose names appear on the Register of Members of the Company at the close of business on Thursday, 11th September, 2025. As at the date hereof, the Company does not hold any treasury shares whether in the Central Clearing and Settlement System, or otherwise. 공시 • Aug 02
CK Infrastructure Holdings Limited to Report Q2, 2025 Results on Aug 13, 2025 CK Infrastructure Holdings Limited announced that they will report Q2, 2025 results on Aug 13, 2025 Upcoming Dividend • May 19
Upcoming dividend of HK$1.86 per share Eligible shareholders must have bought the stock before 26 May 2025. Payment date: 11 June 2025. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 5.0%. Lower than top quartile of British dividend payers (5.7%). In line with average of industry peers (4.6%). Declared Dividend • Mar 24
Final dividend of HK$1.86 announced Shareholders will receive a dividend of HK$1.86. Ex-date: 26th May 2025 Payment date: 11th June 2025 Dividend yield will be 40%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (264% cash payout ratio). The dividend has increased by an average of 2.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 공시 • Mar 21
CK Infrastructure Holdings Limited Proposes Final Dividend for the Year Ended December 31, 2024, Payable on 11 June 2025 CK Infrastructure Holdings Limited proposed final dividend of HKD 1.86 per share for the year ended December 31, 2024. Date of shareholders' approval is May 21, 2025. Ex-dividend date is 26 May 2025, Record date is 27 May 2025 and Payment date is 11 June 2025. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: HK$3.22 (vs HK$3.19 in FY 2023) Full year 2024 results: EPS: HK$3.22 (up from HK$3.19 in FY 2023). Revenue: HK$5.54b (down 18% from FY 2023). Net income: HK$8.12b (up 1.1% from FY 2023). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Electric Utilities industry in Europe. 공시 • Mar 19
CK Infrastructure Holdings Limited, Annual General Meeting, May 21, 2025 CK Infrastructure Holdings Limited, Annual General Meeting, May 21, 2025. 공시 • Mar 06
CK Infrastructure Holdings Limited to Report Fiscal Year 2024 Results on Mar 19, 2025 CK Infrastructure Holdings Limited announced that they will report fiscal year 2024 results on Mar 19, 2025 공시 • Dec 09
Thames Water Receives Buyout Offer from Investment Group Covalis Capital Investment firm Covalis Capital (Covalis Capital LLP) has made an offer for Thames Water (Thames Water Limited), in a plan which could see the embattled utility giant broken up into smaller businesses. Covalis’s bid involves bringing in French company Suez to help it run Thames Water as it sells off large chunks of the supplier’s assets. The offer involves £1 billion up front, plus another £4 billion from planned asset sales and refinancing. The sales could include selling individual pieces of infrastructure such as tunnels, then leasing them back. But they could also involve hiving off entire regions that Thames Water serves, such as the Thames Valley. The new owner would then list what remains of Thames Water on the stock market. Covalis is a utility investment firm. It has interests in major infrastructure groups across Europe such as German energy giant RWE. Suez, meanwhile, runs major water services in France and has about 5,000 workers in the UK. It would act in an advisory role, helping current management to overhaul Thames Water’s operations and installing things such as more up-to-date IT and leak monitoring systems.
However, Suez would not own any shares in Thames Water. The Government would hold a so-called golden share in the company, giving it a seat on the board and other rights. Covalis’s bid is not thought to depend on bill hikes as steep as those requested by Thames Water’s current management. Thames Water has asked regulator Ofwat to let it raise average bills by 53% over the next five years, compared with current levels. However, the bid is dependent on Ofwat allowing Thames Water to slow a required programme of investment in upgrading its infrastructure and systems for the next few years, which bidders are thought to view as unachievable. Ofwat will give its final verdict on Thames Water’s five-year business plan on December 19, including proposals for customer bill hikes and investment. A spokesperson for Suez confirmed that it had entered an “exclusive partnership” with Covalis on the bid. They said its role would be to “advise and assist Thames Water by leveraging Suez’s expertise in technical advisory and organisational optimisation”. They added: “At this stage, Suez’s scope of work is limited to advisory mission to ensure the project’s success and address the specific challenges faced by Thames Water.” Covalis’s bid comes after Castle Water, a firm founded by former investment banker John Reynolds and co-owned by Conservative Party treasurer Graham Edwards, was set to make an offer. Castle Water is understood to be proposing to pump in around £4 billion into Thames Water in return for a majority stake. Debt-laden Thames Water, which is the UK’s biggest water supplier, had asked possible investors to put forward indicative bids by the end of Thursday December 5. The utility giant is looking to secure a multibillion-pound cash injection to stave off nationalisation. Other possible investors preparing to put in bids reportedly include Hong Kong firm CK Infrastructure Holdings Limited (SEHK:1038) and private equity giant KKR & Co. Inc. (NYSE:KKR), which together own stakes in Northumbrian Water. It is thought that Thames Water and its adviser Rothschild have also sounded out investment giants Brookfield Asset Management and Carlyle Group. Thames Water, which serves about 16 million people, is in the grip of a funding crisis and only has enough cash to continue operating until early next year. It needs at least £3.3 billion in equity over the next five years, while it is also more than £16 billion in debt. The group has been at the centre of growing public outrage over the extent of pollution, rising bills, high dividends, and executive pay and bonuses at the UK’s privatised water firms. Regulator Ofwat has appointed an independent monitor to supervise Thames Water as it attempts a turnaround. But the process for an equity injection cannot be finalised until after Ofwat’s determination on December 19. As well as seeking to raise equity, Thames is also in the middle of a debt restructuring and recently appointed Julian Gething – a director of turnaround firm Alix Partners – as chief restructuring officer to oversee the process. Thames Water still needs the emergency funding plans to be passed in court though, and is aiming for a December 17 hearing. Reported Earnings • Aug 20
First half 2024 earnings released: EPS: HK$1.71 (vs HK$1.68 in 1H 2023) First half 2024 results: EPS: HK$1.71 (up from HK$1.68 in 1H 2023). Revenue: HK$2.83b (down 21% from 1H 2023). Net income: HK$4.31b (up 1.7% from 1H 2023). Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Electric Utilities industry in Europe. 공시 • Aug 16
CK Infrastructure Holdings Limited (SEHK:1038), CK Asset Holdings Limited (SEHK:1113) and Power Assets Holdings Limited (SEHK:6) agreed to acquire 32 UK Wind Farms from Aviva Investors Global Services Ltd. CK Infrastructure Holdings Limited (SEHK:1038), CK Asset Holdings Limited (SEHK:1113) and Power Assets Holdings Limited (SEHK:6) agreed to acquire 32 UK Wind Farms from Aviva Investors Global Services Ltd. for £350 million on August 13, 2024. The portfolio comprises of 32 wind farms located in England, Scotland and Wales, totalling 175 MW in installed capacity and 137 MW in net attributable capacity.
The transaction is subject to certain closing adjustments and is expected to be completed in September. Barclays Capital PLC, China Branch acted as financial advisor to CK Infrastructure Holdings Limited (SEHK:1038). 
