Ann: UOA Development Bhd - Profit Result (3rd Qtr 2023), page-2

Unit sales still very weak, but still highly profitable given the rental income

I was wondering where the net asset per share dropped so much (~MYR 600m reduction in current assets since last quarter), but it must be related to the dividend which seems to be much larger than last year (2c paid in May23, and a further 2c paid in Oct23 compared to just the 1.35c paid in May22).

It might explain why the price fell to ~51-52c since the 13th of Oct (ex date)........not enough growth and unfranked dividends hardly an attractive combination for Aus investors