Stocks
Unique Hotel & Resorts Declares its Dividends
One of the listed companies, Unique Hotel & Resorts has proposed a 20% Cash Dividend for the fiscal year ending on June 30, 2023. The Annual General Meeting (AGM) is scheduled for December 12, 2023, at 10:30 AM, and it will be conducted through a digital platform. The Record Date for dividend entitlement is set for October 23, 2023.
In terms of financial performance, the company has reported notable figures for the year ending June 30, 2023. The Earnings Per Share (EPS) stands at Tk. 6.42, reflecting substantial growth compared to the restated figure of Tk. 3.34 for the previous fiscal year. Additionally, the Net Asset Value (NAV) per share has reached Tk. 88.51, a significant increase from the restated figure of Tk. 84.91 for the year ended June 30, 2022. Furthermore, the Net Operating Cash Flow Per Share (NOCFPS) has risen to Tk. 5.13, compared to the restated figure of Tk. 0.60 for the prior year.
The company attributes this positive financial performance to various factors, including an EPS from business operations of Tk. 2.06. Moreover, the company’s revenue has experienced substantial growth, increasing by 55% during the reporting period compared to the previous year.
Additionally, there has been an unrealized gain on the investment in quoted shares at Chartered Life Insurance Co. Ltd., amounting to Tk. 154,577,130, with a consequential impact of Tk. 0.53 on the company’s financials.
The Company’s latest financial report indicates a positive development in its earnings per share (EPS) for the year ending June 30, 2023. Notably, there has been a significant increase of 2.45% in the EPS, marking a favorable performance and financial growth.
Furthermore, during the same fiscal year, the company achieved a capital gain from the sale of 2.45% ordinary shares of Unique Meghnaghat Power Limited. This capital gain amounted to Tk. 1,128,754,465, and it was realized upon the satisfaction of the condition precedents (CPs) outlined in the Share Purchase Agreement for the Second and Third Closings. This noteworthy capital gain has had a notable impact on the company’s EPS, contributing positively with a value of Tk. 3.83.
The Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Professor Shibli Rubayat-Ul-Islam, has called on investors to consider increasing their participation in the capital market in anticipation of the economic upswing following the forthcoming national election.
Expressing confidence in the current political stability, he noted that this is an opportune time for savvy investors to bolster their capital market portfolios. The Chairman emphasized his optimism for a revitalized capital market post-election and pledged to ensure that vested interests do not disrupt market dynamics.
Despite global economic fluctuations due to the COVID-19 pandemic and the Russia-Ukraine conflict, Bangladesh’s capital market has remained relatively stable. Rubayat-Ul-Islam also reassured investors that the BSEC is working diligently to protect their interests amid challenging times.
In response to concerns about the country’s foreign currency reserves, Chairman Rubayat-Ul-Islam highlighted the strategic allocation of foreign currency toward industrialization and infrastructure development. He emphasized that this allocation would yield substantial benefits for Bangladesh in the near future. The BSEC’s unwavering commitment to regulatory enforcement has contributed to bolstering investor confidence. The Commission’s legal, monitoring, and surveillance units remain vigilant, making it increasingly difficult for any malicious actors to engage in market misconduct.
Furthermore, Bangladesh has gained recognition as an attractive global investment destination, with numerous research organizations publishing positive reports on the nation’s economic development. This reputation has piqued the interest of investors worldwide.
The S&P 500 and NASDAQ experienced weekly drops of approximately 3% to 4%, marking their third consecutive week of declines. These losses were primarily triggered by significant downturns during Wednesday afternoon and Thursday, following the latest U.S. Federal Reserve meeting.
Reviewing the US Stock Markets, the Nasdaq Composite, recorded a decent gain of 8 points, reaching a closing value of 13,219 points by the end of the week. Similarly, the S&P 500 index showed a negative trend, losing 32 points to settle at 4,288 points. Meanwhile, DJIA Index experienced a notable shed, diving by 456 points during the week and concluding at 33,507 points after a week of lose.
In contrast, Russell 3000 Index saw a loss in week performance, with a loss of 13 points to reach 2,462 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable added of 9 points, ending the week at a steady 1,785 points.
In the Outgoing week, the European stocks market displayed a negative performance.
Here is the data on the weekly performance of the European Stock Market, The STOXX Europe 600 index, which is considered a leading benchmark for the European market and covers approximately 90 percent of the market capitalization across 17 countries, reported a loss of 3.04 points to close at 450.22.
The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed a significant drop, losing 75 points or finishing the session at 7,608.
In Germany, the DAX 30 index, dropped by 171 points to reach 15,386, while France’s CAC 40 decreased by 49 points to stop at 7,135 at the end of the trading day.
Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, losing 332 points to 28,243. However, Spain’s IBEX 35, dived by 74 points, to close at 9,428.
