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Published by Poppy Clements,
Editorial Assistant
Hydrocarbon Engineering,
Air Liquide has successfully issued a new €500 million green bond, in line with its ambition to combine growth and sustainable development. The group intends to use the proceeds from the issuance to finance or refinance flagship energy transition and sustainable projects, in particular in low-carbon hydrogen, carbon capture and low-carbon air gases. This new issuance confirms Air Liquide as a regular ESG issuer, after its inaugural 2021 green bond issue.
This transaction, significantly oversubscribed by investors, was executed under the Group’s Euro Medium Term Note (EMTN) programme. With this issuance, Air Liquide is raising €500 million with a 10-year maturity at a yield of 3.466%.
Proceeds from this issuance will allow Air Liquide to finance or refinance flagship energy transition and sustainable projects and to support the Group’s long term growth at very competitive financial conditions.
Jérôme Pelletan, Group Chief Financial Officer, commented: “The success of this second green bond issuance illustrates the investors’ confidence in Air Liquide’s ability to implement technologies and pioneer projects that contribute to the decarbonisation of our activities as well as help our customers lower their carbon footprint. This is in line with our strategic plan ADVANCE, which inseparably links financial and extra-financial performances. The technologies Air Liquide masters notably in the fields of low-carbon hydrogen, carbon capture and low-carbon air gases actively and concretely contribute to a transition to a low-carbon society.”
Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/24052024/air-liquide-successfully-issues-a-500-million-green-bond-to-finance-energy-transition/
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Dividend stocks: Shares of Vedanta Limited, Tata Consumer Products Ltd, QGO Finance Ltd, Bharat Dynamics, and Som Distilleries & Breweries Ltd will be in focus when the stock market opens on May 24 (Friday).
The boards of Directors of these companies have declared interim dividends, final dividends, and stock splits for their eligible shareholders.
These companies have fixed May 24 as the record date to ascertain the eligibility of shareholders for their respective issues.
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Dividend
Vedanta: The company has declared an interim dividend of ₹11.00 per equity share.
In a stock exchange filing, Vedanta said the Board of Directors declared “First Interim Dividend of ₹ 11/- per equity share on the face value of ₹ 1/- per equity share for the Financial Year 2024-25 amounting to c. ₹ 4,089 Crores.”
Tata Consumer Products: The company has declared a final dividend of ₹7.75 per equity share.
In a stock exchange filing, Tata Consumer Products said: “The Board had recommended a dividend of ₹7.75 per equity share of ₹1 each (775%) subject to approval by the shareholders of the Company at the 61st AGM.”
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QGO Finance: The company has declared an interim dividend of ₹0.15 per equity share.
In a stock exchange filing, QGO Finance said the Board of Directors declared “Interim Dividend at Rs. 0.0015 (1.5 %) per Equity Share (Subject to Deduction of TDS) on the face value of the paid-up equity shares of Rupees 10/- each for the quarter Jan 24 to March 24.”
“Further, it is hereby informed that Thursday, May 24, 2024, shall be reckoned as the ‘Record Date’ to ascertain the eligibility of shareholders for payment of Interim Dividend for the FY 2023-24,” the filing added.
Shares of Vedanta, Tata Consumer Products, and QGO Finance will trade ex-dividend on Thursday.
Stock Split
Bharat Dynamics: The company has declared a stock split from ₹10 per equity share to ₹5 each.
In a stock exchange filing, Bharat Dynamics said: “We wish to inform you that, the Company has fixed Friday 24 May 2024 as the Record Date for the purpose of determining the eligibility of shareholders for sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of face value of Rs. 5/- (Rupees Five Only) each fully paid up.”
Som Distilleries & Breweries: The company has declared a stock split from ₹5 per equity share to ₹2 each.
In a stock exchange filing, Som Distilleries & Breweries said the Board of Directors approved “the sub-division of each of the Equity Shares of the Company having a face value of Rs. 5/—each sub-divided into a face value of Rs. 2/—each.”
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Published: 24 May 2024, 06:30 AM IST
2-minute read
May Day Rally in Newark for NJ unemployment expansion: Video
Labor activists and unions gathered for a May Day Rally at Military Park in Newark on May 1, 2024, calling for a NJ unemployment benefits expansion.
Swiss bank UBS is laying off 51 employees at its Weehawken office, public records show, as New Jersey’s banking and finance sectors more broadly grapple with tightening budgets amid uncertain economic times.
UBS is reportedly looking to trim its costs by $13 billion, which includes cutting one in every 12 employees, according to Reuters. A spokesperson for UBS declined to comment for this story.
Data from state filings showed that five financial institutions announced New Jersey layoffs so far in 2024: The Bank of New York Mellon Corporation, TD Bank, Prudential Financial, Citibank and JPMorgan Chase Bank.
Some of those banks — including Citibank and Charles Schwab — are cutting their head counts by the thousands or tens of thousands across their entire operations.
Nationwide, Charles Schwab is cutting 2,000 employees and Citibank 20,000 of its staff.
“Banks are reducing back-office costs, and this includes people and head count reductions, unfortunately,” said Christopher Marinac, director of research at Janney Montgomery Scott, a financial services firm. “Overall, bank earnings are stable and generally not growing. Further, bank balance sheets are not expanding much this year.”
One factor — the Federal Reserve, which has raised interest rates 11 times since the COVID-19 pandemic. That pushed mortgage rates higher for homebuyers, meaning fewer people obtained mortgages, prompting Wall Street to respond with layoffs, said a report by CNBC.
That resulted in the state’s first job losses in half a year, unemployment figures show.
“Banks are being careful on new lending and trying to retain more capital as the Federal Reserve is tightening standards and raising capital requirements soon,” Marinac said.
James Hughes, an economist at Rutgers University, told NorthJersey.com that white-collar jobs in banking and finance have become saturated after a two-year hiring spree that followed the COVID-19 pandemic.
Layoffs this year
New Jersey companies are letting go of more than 4,600 employees in 2024, public records show.
The layoffs include 2,774 job cuts announced in 2023 for this year, and another 1,847 cuts announced in the first three months of 2024.
Those cuts come at a time when New Jersey’s workforce posted a net loss in jobs for the first time in six months. Meanwhile, the state unemployment rate has hovered at 4.8% since September, state data shows.
Daniel Munoz covers business, consumer affairs, labor and the economy for NorthJersey.com and The Record.
Email: munozd@northjersey.com; Twitter:@danielmunoz100 and Facebook
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