The following companies saw new developments that may affect trading of their securities on Thursday (Feb 22):
UOB (U11): UOB’s net profit for the fourth quarter rose 21.8 per cent on higher net fee income and other non-interest income, based on its results released on Thursday (Feb 22).
Net profit for the three months ended Dec 31, 2023, stood at S$1.4 billion, compared with S$1.2 billion from the year-ago period.
The earnings missed a S$1.5 billion consensus forecast for the fourth quarter in a Bloomberg survey of two analysts. If not for the one-off integration expenses, core net profit would have been in line with the projections.
UOB’s board has recommended a final dividend of S$0.85 per share for the half-year period. This brings the full-year dividend to S$1.70 per share, representing a payout ratio of about 50 per cent.
The dividend will be paid out on May 9, after books closure on Apr 29. UOB said its scrip dividend scheme will not be applied to the final dividend.
Wilmar (F34): Wilmar International’s net profit for the half year ended December 2023 fell 21.3 per cent to US$973.9 million, from US$1.2 billion the year before.
This was due to lower contributions from its feed and industrial products division as well as non-operating losses, the agribusiness group said in a bourse filing on Wednesday (Feb 21).
The non-operating losses were due to factors such as weaker equity market conditions and a higher interest cost environment throughout the year.
iFast (AIY): Financial services company iFast Corporation’s net profit for the fourth quarter surged 917.1 per cent, on the back of higher revenue, as initial contributions from its ePension division streamed in.
Net profit for the three months ended Dec 31, 2023 climbed to S$13.2 million from S$1.3 million in the year-ago period. On a per share basis, earnings rose to S$0.0446 in Q4 FY2023, from S$0.0044 in Q4 FY2022.
A final dividend of S$0.014 per share was proposed, unchanged from the previous year.
Vicom (WJP): Vehicle inspection company Vicom reported on Wednesday (Feb 21) a 4.5 per cent increase in net profit for the second half of 2023, on the back of higher revenue.
Net profit for the six months ended Dec 31, 2023, rose to S$13.7 million from S$13.1 million in the corresponding year-ago period.
A final dividend of S$0.0275 per share was proposed, down from the S$0.0332 final dividend in the preceding financial year. Including the interim dividend of S$0.0275 per share, the total dividend for FY2023 amounted to S$0.055 per share, down from S$0.0664 in FY2022.
United Hampshire US Reit (ODBU): United Hampshire US REIT has reported a distribution per unit (DPU) of 4.79 US cents (6.4 cents) for the FY2023 ended Dec 31, 2023, 18.5% lower y-o-y.
DPU for the 2HFY2023 fell by 27.9% y-o-y to 2.14 US cents as the REIT manager elected to receive 100% of its base fee in cash instead of units. The move was made to “preserve unitholder value and minimise unit base dilution” says the manager.
Including the retained distributable income of US$1.3 million as capital reserves, 2HFY2023 net income available for distribution fell by 18.2% y-o-y to US$13.8 million, bringing the full year’s distributable income to US$30.4 million, 8.2% lower y-o-y.
ARA H-Trust (XZL): ARA US Hospitality Trust’s (ARA H-Trust) distribution per stapled security (DPS) for the half year ended December 2023 was up 18.6 per cent to US$0.01929, from US$0.01627 in H2 FY2022.
The distribution will be paid out on Mar 28, 2024, after the record date on Mar 1, reported the stapled group’s managers on Thursday (Feb 22).
Revenue rose 2 per cent year on year to US$89.5 million, while net property income (NPI) climbed 26.4 per cent to US$25.7 million.
Comments