Chow Tai Fook guarantees HK$707m hotel dividend

New World Development and its controlling shareholder, Chow Tai Fook Enterprises, have agreed to guarantee a minimum HK$707 million first-year payout from the proposed spin-off of the group's hotel subsidiary.

via Business feed http://www.scmp.com/business/companies/article/1257402/chow-tai-fook-guarantees-hk707m-hotel-dividend