Annual Report 2021

55 ANNUAL REPORT 2021 Report of the Directors The Board is pleased to present the Company’s annual report together with the audited financial statements for the year ended 31 December 2021. All references in this section “Report of the Directors” to other sections in this Annual Report form part of this section. PRINCIPAL ACTIVITIES AND GEOGRAPHICAL ANALYSIS OF OPERATIONS The Company is an investment holding company. The principal activities of its subsidiaries, associates and joint ventures are set out in notes 42 to 44 to the consolidated financial statements, respectively. An analysis of the Group’s performance for the current year by operating segments is set out in note 5 to the consolidated financial statements. RESULTS AND APPROPRIATIONS The results of the Group for the year are set out in the consolidated statement of profit or loss on page 77. The Board had declared an interim dividend of 22 HK cents per share, totaling HK$823 million, which was paid on 18 November 2021. The Directors have resolved to recommend the payment of a final scrip dividend of 72 HK cents per share, totaling HK$2,726 million for the year ended 31 December 2021 by way of an issue of new shares with an alternative to the shareholders of the Company (the “ Shareholders ”) to elect to receive the final dividend (or part thereof) in cash in lieu of such allotment (2020: scrip dividend of 51 HK cents per share by way of issue of new shares equivalent with cash alternative), payable on or around 22 July 2022 to the shareholders whose names appear on the register of members of the Company (the “ Register of Members ”) on 13 June 2022 (the “ Scrip Dividend Scheme ”). Subject to the approval by the Shareholders at the annual general meeting of the Company to be held on 2 June 2022, a circular containing details of the Scrip Dividend Scheme together with the relevant election form will be sent to shareholders on or around 16 June 2022. The Scrip Dividend Scheme is conditional upon the granting by the Listing Committee of the HKSE of the listing of and permission to deal in the new shares to be issued pursuant thereto. It is expected that the final dividend warrants and certificates for the new shares will be despatched to Shareholders on or around 22 July 2022. BUSINESS REVIEW A review of the business of the Group during the year and a discussion on the Group’s prospects are provided in the “Chairman’s Statement” and the “Management Discussion and Analysis” on pages 6 to 13 and pages 14 to 30 of this Annual Report respectively. Description of key risk factors and uncertainties that the Group is facing is provided in the “Management Discussion and Analysis” on pages 14 to 30 of this Annual Report while the financial risk management of the Group can be found in note 3 to the consolidated financial statements. An analysis of the Group’s performance during the year using financial key performance indicators is provided in Financial Highlights on inside front cover of this Annual Report. In addition, discussions on the Group’s compliance with relevant laws and regulations which have a significant impact on the Group, relationships with its key stakeholders including shareholders, employees, customers and suppliers etc are contained in the “Management Discussion and Analysis” and “Corporate Governance Report” on pages 14 to 30 and pages 33 to 47 of this Annual Report respectively. Furthermore, the Group recognises environmental protection is of vital importance to the long term development of the Group. The “Environmental, Social and Governance Report” which contained discussion and review on the environmental policies and performance of the Group will be separately published by the end of April. For details, please refer to the Company’s website.