The Financial Express

Peninsula downgraded to ‘B’ category

| Updated: December 10, 2017 12:10:54

Peninsula downgraded to ‘B’ category

Port city-based hotel The Peninsula Chittagong will be placed in ‘B’ category from the existing ‘A’ category with effect from Sunday next.

The travel & leisure sector listed company approved only 5.0 per cent cash dividend for the year ended on June 30, 2017 whereas the Board of Directors of the company disbursed 10 per cent cash dividend in 2016.

“The stock brokers and merchant bankers are requested to abstain from providing loan facilities to purchase any security of The Peninsula Chittagong with effect from December 10, 2017 as per securities regulator directive in this regard,” said a statement posted on the Dhaka Stock Exchange (DSE) on Thursday.

The company’s earnings per share (EPS) stood at Tk 0.16 for July-September, 2017 as against Tk 0.50 for July-September, 2016.

Each share of the company, which was listed with the main bourse back in 2014, closed at Tk 24.40 on Thursday, losing 1.21 per cent over the previous day.

The company’s paid-up capital is Tk 1.18 billion and authorised capital is Tk 3.0 billion while the total number of securities is 118.66 million.

The sponsor-directors own 39 per cent stake in the company while institutional investors own 14.98 per cent, foreign 0.35 per cent and the general public 45.67 per cent as on November 30, 2017, the DSE data showed.

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