Mirvac Group (ASX:MGR) announced that its distribution for the half year ending 30 June 2020 is 3 cents per share while for the whole year is 9.1 cents per share. Some other announcements included:
- Preliminary property valuations across 63 assets indicated a reduction in value of $306 million or roughly 2.8% compared to the book value as at 31 December 2019
- Cash and undrawn debt facilities of more than $1.3 billion as at 19 June with $200 million debt due for repayment between now and early 2022
- The Group has entered into $810 million of new debt facilities with maturities ranging from 3 to 4.5 years since 31 December 2019
Mirvac CEO and MD, Susan Lloyd stated that the group is taking all necessary measures to address challenges of COVID-19 including appropriate capital management.
There is no one left untouched by the charm of the multibillion-dollar global boom in cannabis. Its glorious journey from a criminalized drug to being used in over 20 countries for treating medical conditions.
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Find out the drivers for the rise in cannabis stock rates Even though the cannabis sector is in its growing phase, Australian cannabis stocks have already started to rise actively due to a hastily increasing patient base, and a legislative landscape that is gradually beginning to liberalise.
Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022.
Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)