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Wharf REIC's H1 Loss Narrows; Boosts Interim Dividend; Shares Jump 11%

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Wharf Real Estate Investment or Wharf REIC's (HKG:1997) attributable loss for the six months ended June 30 narrowed to HK$176 million from a loss of HK$2.41 billion in the year-ago period, according to a Hong Kong bourse filing Thursday.

Loss per share stood at HK$0.06 per share compared to HK$0.79 a year earlier.

The property company generated HK$6.34 billion in revenue during the first six months of the year, down from HK$6.41 billion previously.

The company declared a first interim dividend of HK$0.94 per share, payable Sept. 10 to shareholders of record on Aug. 26. The latest dividend increased 42% from the HK$0.66 payout declared a year ago.

Shares of the property company jumped nearly 11% in recent trade.

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