HTIL Offers Dividend Instead Of Acquisitions

Hong Kong-based mobile operator Hutchison Telecom International Ltd (HTIL) has announced a cash dividend of HKD7 per share, amounting to HKD33.7bn (US$4.35bn). The windfall is the result of the company's US$10.9bn sale of its Indian operations to Vodafone in 2007. HTIL cited a 'lack of suitable investment opportunities' as the reason for the large dividend payout. The company had intended to use the profit from its sale of Hutchison Essar to fund acquisitions in other emerging markets, but had not found anything to meet its criteria and did not expect to see any change in the near future, according to chief executive Dennis Lui.

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