High dividend payout sparks rally in Anta Sports Products shares

Shares of Anta Sports Products rose as much as 4.7 per cent yesterday, driven by the mainland sportswear retailer's plan to pay high dividends despite a sharp fall in profit.

Some analysts said the sportswear industry on the mainland had not bottomed out yet and this year would be even tougher for major players such as Anta.

Anta rose to HK$7.82 from HK$7.47 after the board recommended a final dividend of 17 HK cents plus a special payout of eight HK cents per share for last year. The stock closed at HK$7.56, up 1.2 per cent.

via Business feed http://www.scmp.com/business/companies/article/1158642/high-dividend-payout-sparks-rally-anta-sports-products-shares