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The board of Berger Paints Jamaica approved a Special Dividend of Twenty Cents and a final of Thirty Cents per ordinary stock unit to be recommended to shareholders at the 2017 annual general meeting.
The payment is expected to be on August 4, to shareholders on the Company’s register at the close of business July 21, 2017. The ex-dividend date is set for July 19.
The proposed payment is exactly in line with IC Insider.com’s forecast. IC Insider forecasted earnings of $1.30 per share for 2016 and $1.90 for 2018 and suggested that the results equated to dividend of approximately 50 cents per share for 2016 and around 70 cents for 2018.
In 2016, the company made net profit of $122 million compared to $67 million in 2015 and earnings per stock unit 57 cents in 2016 and 31 cents in 2015. A dividend of 20 cents per share amounting to $42.86 million and representing 35 percent of profit for the year ended March 2016 was paid on July 14, 2016 and a dividend of 12 cents per share amounting to $25.7 million or 38.35 percent of 2015 profit was paid in 2015.
The stock traded on the main market of the Jamaica Stock Exchange at $16.51.
