Hongkong Land Holdings Limited (SGX: H78) is a property investment, management, and development company with assets in various Asian cities such as Hong Kong, Singapore, Beijing, and Jakarta. At Hongkong Land’s share price of US$3.82, it has a dividend yield of 5.8%. With a yield that is way higher than some Singapore REITs, the property developer is sure to attract retirees and income-hungry investors alike amid a low interest rate environment. However, before investing in any company for its dividend, we should go beyond the headline dividend yield and find out if it’s sustainable. If not, we could end up investing in a dividend trap. With that, let’s explore why I think Hongkong Land’s dividends are sustainable. Hongkong Land’s Latest Financial Highlights  Since sustainable dividend payment is always a function of business performance, let’s look at how the company has performed in its latest financial period. For Hongkong Land’s first half of 2020, revenue grew 2% year-on-year to US$820 million, but underlying profit fell 24% to US$353 million....