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- Sunland Group’s shares were trading in the green today, up 0.404% at 12:20 PM AEDT, 16 November.
- This increase was followed by the company’s AGM results published Tuesday (15 November).
- Sunland’s statutory NPAT was reported to be AU$92.6 million for FY22.
Shares of Australia-based development company Sunland Group Limited (ASX:SDG) were on the rise today. Sunland’s share price gained 0.404% and was trading at AU$2.480 per share on the ASX as of 12:20 PM AEDT, 16 November.
The increase in Sunland’s share price appears to be following the company’s annual general meeting (AGM) results published yesterday (15 November).
In the last five trading sessions, Sunland’s shares have gained 0.40% while jumping 3.77% in the previous one month. On the contrary, the share value of Sunland has dropped 7.46% in the last six months, alongside declining 9.82% on a year-to-date (YTD) basis and 8.82% in the past year.
The AGM report concluded key takeaways from the company’s FY22 results, such as:
Determining delivery and settlement schedules for Sunland's active projects, as well as its remaining inventory and other assets was on the agenda for its annual general meeting. The company's strategic goal is focused on quickly and appropriately returning net assets to shareholders.
On 15 November, Sunland notified shareholders of a special dividend of 60 cents per share. According to the ASX filing, this dividend was scheduled to be paid when the debt notes were redeemed. After redeeming the debt notes on 31 October, the group has now paid off all its external debt facilities.
FIIG Securities Limited oversaw Sunland Group's intention to redeem the AU$50 million debt notes. The debt notes' maturity date is 31 October 2024, and they bear interest at a rate of 6.2% annually, due every quarter.
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