HK Stock Market Move | Ancient series performance strengthens after Tai O (00019) rises more than 5%, the company's progressive dividend policy is sustainable.

In the wake of the ancient record, Tai Gu series was strong, Tai Gu A (00019) rose 5.68% as of the release, reaching 87.3 Hong Kong dollars; Tai Gu B (00087) rose 2.08%, reaching 13.74 Hong Kong dollars. On the news front, on March 12, SWIRE PACIFIC A and SWIRE PACIFIC B released their annual results for 2025. The group achieved revenue of 90.467 billion Hong Kong dollars, an increase of 10% year-on-year; shareholders' attributable basic surplus was 11.373 billion Hong Kong dollars, an increase of 9% year-on-year; A-share earnings per share was 2.17 Hong Kong dollars, and B-share earnings per share was 0.43 Hong Kong dollars. It is proposed to distribute a second interim dividend of HK$2.5 per A share and HK$0.5 per B share. Citigroup released a research report stating that Tai Gu A's dividend per share for the 2025 fiscal year is expected to increase by 13% annually, surpassing the 5% annual increase in recurring basic surplus, reflecting satisfaction with its progressive dividend policy. Management expects future dividends per share to achieve mid-single-digit growth. Bank of America Securities pointed out that Tai Gu Group's performance last year slightly exceeded expectations, with unexpectedly increased dividends per share by 13%, sending a strong signal and consolidating Tai Gu Group's strong track record in shareholder returns. Management believes that its progressive dividend policy is sustainable and expects dividends per share to maintain stable growth in the mid-single digits annually. Due to restrictions on circulating shares, share buybacks remain a secondary option.