The Jamaica Stock Exchange will pay $74 million in dividend on May 6, this year. The dividend translates to 53 cents per share. In December last year, the company made a payment of $65.8 million or 47 cents per share following a payment of 53 cents per share in July.
The stock will start trading ex-dividend on April 28, at which date new investors in the stock will not be entitled to the above dividend.
With the price of the stock in the $20 range in 2016, the yield is 2.5% and IC Insider projects that it is with profits for the year set to exceed that of 2015 dividends will be increased thus raising the yield for the year higher.
The company reported earnings for 2015 of $1.25 per share or $175 million, up from only $3 million in 2014. The company’s stock last traded on Wednesday on the Jamaica Stock Exchange at $20.55.
In December 2014, the stock traded at $1.50. The three dividends provide investors who purchased the stock in December 2014 if they held them, with a full pay back of the amount invested, not factoring in taxes.
$74m pay out by JSE
April 22, 2016 by
