Elevator Pitch
I assign a "Neutral" rating to Hong Kong-listed property conglomerate CK Asset Holdings Limited (CHKGF) (CNGKY) [1113:HK].
CK Asset has increased its dividends per share every year for four consecutive years since its spin-off in 2015, which is equivalent to a four-year dividend CAGR of 10.7%. The stock offers a trailing twelve months' dividend yield of 4.2% and a consensus forward next twelve months' dividend yield of 4.7%.
CK Asset recently acquired a UK pub operator in October 2019 to grow its recurring income, but all of its recurring