Pursuits
Chow Tai Fook Rises After Company Declares Surprise Dividend
- Special dividend of 42 H.K. cents first since IPO in 2011
- Chairman says jeweler to shut stores that don't perform well
Pedestrians walk past a Chow Tai Fook jewelry store in Causeway Bay, Hong Kong.
Photographer: Xaume Olleros/BloombergThis article is for subscribers only.
Chow Tai Fook Jewellery Group Ltd. gained the most in close to two years after the world’s largest publicly traded jewelry chain declared a special dividend even as it posted the steepest decline in semi-annual profit since listing.
The stock climbed 6 percent to HK$6.23 by the close of trading in Hong Kong, the biggest advance since January 2014. The benchmark Hang Seng Index lost 0.4 percent.