SEE: Hatten Land to restructure subsidiaries MDSA Resources and MDSA Ventures to fortify business resiliency amid Covid-19
Despite the losses, CapitaLand plans to pay a dividend of nine cents per share, which translates into a payout ratio of 52% of FY2020’s cash PATMI. For FY2019, CapitaLand paid 12 cents per share. “Despite a challenging 2020, CapitaLand remains operationally profitable and financially strong, which underpin our continuing ability to distribute returns to our shareholders,” says chairman Ng Kee Choe. Group CEO Lee Chee Koon maintains that Covid-19 has disrupted but will not change the plans for CapitaLand to become a globally competitive asset manager and real estate company. “In 2020, we continued to grow our fund management business, deploy capital into new economy asset classes, and took the chance to digitalise and rationalise our existing business,” he says. “Not only will CapitaLand’s strong balance sheet and cashflow position tide us through the ongoing COVID-19 pandemic; more importantly, we will be able to capitalise on new opportunities to further transform our business,” says Lee.