CKI dividend: amount, cash cover and yield
CKI's dividend rose from HK$2.50 to HK$2.61 over the five-year record, with a latest HK$0.75 interim dividend. In 2025, funds from operations provided approximately 1.30 times cover for shareholder dividends, before new investment funding.
How much does CKI pay in dividends?
Base DPS moves from HK$2.70 in 2027 to HK$2.76 in 2028. It reaches HK$2.82 in 2029. This is gradual growth from the five-year record of increases from HK$2.50 to HK$2.61, supported by the latest HK$0.75 interim dividend and the recent 80–84% payout ratio.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Book value per share | 50.77 | 48.13 | 48.93 | 47.39 | 45.97 |
| Book value per share, growth | 5.5% | -1.6% | 3.2% | 3.1% | 3.9% |
| − Dividends paid, per share | 2.59 | 2.57 | 2.54 | 2.51 | 2.48 |
| − Share buybacks, per share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
What this means. Book value per share is what the company would theoretically leave for each share after paying all its debts, not what the share currently sells for.
Is CKI's dividend covered by its cash?
Parent cash dividend cover compares cash received with shareholder distributions. Against HK$6,526 million of shareholder dividends paid during 2025, FFO provided approximately 1.30 times cover. Including HK$438 million paid to perpetual-security holders reduces that to about 1.22 times. This is a useful group-level test, but it comes before new investment funding and does not prove that every distribution is recurring.
CKI’s funds from operations, which combine operating cash with dividends from associates and joint ventures, totalled HK$40,537 million over 2021–2025. Consolidated purchases of property, plant and equipment totalled HK$1,825 million over that period, but local businesses funded additional spending themselves. Gross loan repayments reached HK$40,469 million against HK$32,084 million of new borrowing, showing a net reduction in loans.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| − Dividends paid | 6,526 | 6,475 | 6,400 | 6,324 | 6,249 |
| − Share buybacks | 0 | 0 | 0 | 0 | 0 |
| New shares sold | 0 | 0 | 0 | 0 | 0 |
| Acquisitions | 83 | 1,807 | 599 | 89 | 1,214 |
What this means. The acquisitions row is a nearby measure—money invested in joint ventures—not necessarily money used to buy whole businesses.
What could change CKI's dividend?
Across 2027–2029, weak investee distributions or poor reinvestment returns would reduce FFO growth and dividend cover. Northumbrian Water overruns or poor service could affect expectations through March 2030.
What is CKI's dividend yield today against its price?
| Today (Oct 19, 2026) | |
|---|---|
| Share price | 67.95 |
| Market value (every class) (calculated) | 171,208 |
| Price to book (calculated) | 1.2x |
| P/E, next 12 months (calculated) | 19.3x |
| Dividend yield (calculated) | 3.8% |
What this means. The share price is from October 16, not October 19, so it may not be the price you could pay on the valuation date.