Dividends & Insider Trades

June 10, 2013 by

Seprod Limited | Declared a dividend of $0.53 per share payable on July 8, 2013 to shareholders on record as at June 21, 2013. The ex-dividend date is June 19, 2013.The previous dividend paid by the company was $0.30 per share, on November 9, 2012.  Prior to this, the company paid a dividend of $0.53 per share on August 7, 2012.

Seprod reported profits for the first quarter of this year that was down on the similar quarter in 2012. Profit after tax profit slipped to $231 million compared to $292 million in the 2012 first quarter.

JPS Preference dividends | Declared quarterly dividends for the issued preference shares which will be paid on July 1, 2013 to shareholders on record as at June 14, 2013, the ex-dividend date is June 12, 2013. The following are the shares and the amounts:

  • Jamaica Public Service Company Limited 7% – $0.035
  • Jamaica Public Service Company Limited 5% C – $0.025
  • Jamaica Public Service Company Limited 5% D – $0.025
  • Jamaica Public Service Company Limited 6% – $0.03

Insider trades | Jamaica Producers Group Limited advised that two Directors purchased a total of 290,287 of the company’s shares, between May 17 & 24, 2013. Mayberry Investments Limited has also advised that a connected party purchased 29,037 shares in the company on June 3, 2013.

Filed Under: Company News, Dividends, General Business News Tagged With: , , ,

FX: US$ buying less than selling

June 10, 2013 by

Wednesday & Thursday, 6th & 7th June 2013

USD | Trading on the foreign exchange market has seen heavy buying of the US dollars by end users compared with much less buying by authorised dealers for the past four trading days. Thursday trades were no exception as $18.4 million US dollars were purchased while $33.8 million were sold. The rates moved up to an average of $99.04 on the buying side and $99.93 on the sell side up 21 cents for the day.

In Wednesdays trading, US$23.6 million were purchased and US$38.5 million were sold while the buying rate went up 27 cents to $98.99 and the sell rate climbed 12 cents to $99.72.

CND | The Canadian dollar climbed on the buying side by 24 cent to $95 but fell for selling by 15 cents to $97.09 with C$780,908 bought and C$516,282 sold.

On Wednesday C$685.658 was bought and C$451,935 sold with the buying rate falling by 88 cents to $94.76 and the selling rate rising to $97.24 up 35 cents.

GBP  | The Pound Sterling traded £3.18 million at a buying rate of $153.91 up $3.14 from Wednesday’s buying rate and £2.48 million was sold at an average rate of $154.88 up $2.10 on the day. On Wednesday £1.76 were purchased at an average arte of $150.77 up 70 cents from Tuesday and selling amounted to £501,000 at a rate of $152.77 up 35 cents.

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Filed Under: FX Market, Stock Market Tagged With: , ,

Stocks to watch: 10th June 2013

June 8, 2013 by

Keep an eye on these stocks for movement during the week of 10 June, 2013.

  • Access Financial
  • Paramount Trading
  • Lasco Financial
  • Blue Power
  • AMG Packaging
  • Jamaica Broilers
  • Mayberry
  • Sagicor Life
  • Scotia Group
Filed Under: Company News, Stocks to watch Tagged With: , ,

C&WJ announces $2.99 prepaid rate

June 8, 2013 by
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Following on the decision of the Office of Utilities Regulation to lower interconnection rates, from $5 to $1.10 effective July 1, Cable & Wireless (C&WJ), today announced a one rate of $2.99 per minute for all pre-paid calls to any domestic and select international numbers, effective midnight tonight.

The standard Talk EZ Prepaid customers will enjoy the $2.99 per minute rate – billed on a per second basis – for local calls as well as the USA, Canada and landlines in the U.K. The Talk EZ plan is the default option for all new LIME customers, existing subscribers may activate the plan by dialling *123*1# from any mobile phone.

Garfield Sinclair, CEO, Cable & Wireless Jamaica and Cayman revealed that the TALK EZ prepaid plan will also extend to calls made to subscribers on its rival competitors’ network, Digicel.

cable-and-wireless-worldwide280x150Coming down from $6.99 per minute – the new cross network rate of $2.99 represents a 60% reduction in the cost to call across networks for its mobile subscribers. Digicel customers currently pay up to $14.20 per minute to call the C&WJ network, the CEO said.

Sinclair further announced an offer for persons wishing to capitalize on the company’s new rate adjustment with an in-store deal that will see customers receiving a free Alcatel 296 handset and a free SIM card with the purchase of $1000 pre-paid mobile call credit. The two-day offer will be available at C&WJ stores island-wide from Friday, June 7 to Saturday, June 8.

C&WJ, which has emerged as the clear mobile value provider, announced a dramatic rate cut in on and off-network calls on June 14 last year, when the Office of Utility Regulation (OUR) issued its Interim Determination to reduce the Mobile Termination Rate from $9 to $5 per minute.

Filed Under: Company News, General Business News Tagged With:

JSE: 18 stocks up, 5 down, index falls

June 8, 2013 by

Thursday, 6th June 2013 | There was broad based trading on Thursday as shares in 31 companies traded resulting in 18 stocks registering positive price changes and only 5 fell. In what turned out to be a relatively low trading day, just 2.55 million shares valued at $17 million traded. Junior market Blue Power traded 912,587 units up to $8 an all time high with a total value of $7.3 million. Scotia Group traded 129,408 shares valued at $2.77 million, closed at $21.20 and traded at a high of $23.08. Lasco Financial Services traded 127,078 units to close at $10. All other stocks traded less than a million dollars.

Main movers | Scotia Investment recovered $1.50 of the $4 it lost in trading on Wednesday with the stock closing at $27 but it had a bid of $27 at the end of trading. Desnoes & Geddes gained 25 cents to close at $4.95, Carreras gained 70 cents to close at $60, Jamaica Producers closed at $18 up 94 cents for the day. Jamaican Teas traded up 20 cents at $4.60. National Commercial Bank gained 90 cents to close at $22 but the offer was at $21 at the end of trading. Pan Jamaican Investments traded up 50 cents and closed at $55.01. Scotia Group closed at $21.20, off 31 cents on the day.

First Caribbean Bank lost $2 to close at a 52 weeks low of $101.

But by the end of trading, bids for 5 stocks were higher and 2 stocks had offers that were lower than their last selling price.

JSEIndicesJun6

Filed Under: JSE Main Market, Stock Market Tagged With: , ,

TTSE: Trading picks up

June 8, 2013 by

Thursday, 6th June 2013 | Trading picked up in Thursdays trading on the Trinidad & Tobago Stock Exchange with the advance decline ratio being positive. Thirteen securities changed hands of which 6 advanced, 2 declined and 5 traded firm, well above Wednesday’s trading, when only 4 companies traded. Three stocks traded at 52 weeks high at the end of trading.

Trading on the main market amounted to 584,217 shares valued at $4,741,343. Trinidad Cement traded 440,126 shares for a value of $418,120.  Neal & Massy Holdings had a volume of 60,080 shares trading for $3,544,720. There was trading in 27,063 shares Sagicor Financial Corporation with a value of $170,512, while Guardian Media added 20,548 shares valued at $405,823.

Clico Investment Fund posted a volume of 33,186 shares valued at $704,072 while the price of the fund advanced by $0.17 to end at $21.22.

But by the end of trading, bids for 4 stocks were higher and 4 stocks had offers that were lower than the last selling price.

TTSEJun6

Filed Under: Stock Market, TTSE Market Tagged With: , ,

Exports surge but trade deficit widens

June 6, 2013 by

The trade deficit for the first two months of this year widened despite exports growing faster than imports. The deficit was US$827 million compared to US$755 million in the similar 2012 period. Imports rose 12.5 per cent or US$127 million to US$1.148 billion from the same period in 2012. The bulk of the increase was occasioned by US$98 million rise in chemicals.

Exports | Grew faster than imports at an increase of 21.2 percent which generated US$321 million inflows, an increase of US$56 million. Mining and quarrying accounted for major part of the increase. But manufactured goods, which fell by US$23 million, prevented a steeper increase in export earnings. The decline may well be a timing difference relating to shipment of  sugar which is mostly exported in the early part of the year. Statin, who released the report, did not say which items resulted in the decline in manufactured goods. Investigations done by IC Insider confirms that in 2012 the sugar industry exported 40,000 tonnes of sugar between January and February at a value of US$37.5 million and this year only 19,130 was shipped in the same period with a value of US$16.6 million, a difference of US$21 million.

KingstonWharves150x150Imports | While imports rose, not all major categories rose as some items fell. Imports of Chemicals rose by US$178 million to US$276 million, due to higher imports of ‘Organic Chemicals’, ‘Plastic in Non Primary forms’, and ‘Medicinal and Pharmaceutical products’. “Food” increased by US$26 million to US$174 million up by 17.3 per cent. “Machinery and Transport Equipment” increased by US$5.7 million or 3.9 per cent to US$153 million this period.  “Mineral Fuels, etcetera” fell by US$89 million or 21.1 per cent and was valued at US$333 million. “Manufactured Goods” also declined by US$3.5 million or 3.5 per cent, and was valued at US$95 million down from US$99 million recorded in the comparable 2012 period.

Traditional Exports | This segment earned US$139 million during 2013 period, a decrease of 3.4 per cent, or US$5 million, due to the decline in earnings from “Manufactured Goods” which fell by 48.6 per cent from US$48 million to US$25 million. There was an increase in “Agriculture” earning US$3.4 million, 73.2 per cent above the US$2 million recorded in 2012. “Coffee” was the commodity which contributed to the overall increase in this category. “Mining and Quarrying” rose by 17.9 per cent, or US$17 million to US$111 million. Alumina earned US$90.3 million, moving up from US$74 million in the comparable 2012 period. “Bauxite” earnings grew by US$1 million or 4.4 per cent to US$21 million.

Non-traditional | Exports of non-traditional commodities earned US$170 million due largely to increases in the groups “Food’, and “Other Non Traditional Exports”.

Filed Under: Economy Tagged With: ,

CARICOM balance narrows sharply

June 6, 2013 by

The trade balance with the CARICOM region narrowed sharply during the first two months of 2013 as Jamaica imported US$41 million less goods form countries in the region compared with the previous year. Not only did imports enjoy a major decline, exports held up well and was virtually the same as the year before period with a mere marginal decrease of US$0.7 million or 6.5 percent.

The country imported US$98 million worth of goods from CARICOM, a decrease of 29.5 per cent. Expenditure on “Mineral Fuels, etcetera” fell by US$50 million or 51 percent to US$48 million. “Food” grew by US$6.9 million to US$30 million.  “Beverages & Tobacco” were valued at US6 million, roughly the same as in 2012 period, the Statin report on the trade data indicated.

Total exports to the region fell by to US$10 million during the 2013 review period. Exports of domestically produced goods accounted for US$8.8 million, down from US$9.2 million in the comparable 2012 period. Re-exports fell to US$1.5 million. The major groups of domestic exports were “Food”, valued at US$5.2 million, and “Beverages & Tobacco” worth US$1.7 million. These two sub-categories increased by 9.0 per cent and 27.4 per cent respectively.

The trade deficit with CARICOM during February 2013 fell by US$40.3 million to US$ 87.6 million. This was due to decrease importation of “Mineral Fuels, etcetera” during the current review period.

Filed Under: Economy Tagged With: , ,

JSE: Trading levels up again

June 6, 2013 by

Wednesday, 5th June 2013 | The main indices recorded advances in today’s trading except for a small decline in the junior market index. But advance decline ratio turned negative with 8 stocks advancing and 12 declining. But by the end of trading, bids for 10 stocks were higher and 1 stock had an offer that was lower than the last selling price. There was heavier trading than has happened for sometime with $127 billion being expended on 11.87 million shares.

The all Jamaica composite index closed up 174 points at 89,985.22 and the main market index closed at 88,466.47 up 98.67 points.

Main movers | Desnoes & Geddes which traded at $5.10 closed down 20 cents at $4.70 while trading 694,173 units, Carreras fell 70 cents in trading 23,568 units. Jamaica Broilers traded up 21 cents to close at $4.83 with 460,913 units having changed hands. Kingston Wharves traded 329,566 units and put on 19 cents in closing at $7.81 after trading as high as $8. Lasco Manufacturing saw profit taking, with 990,188 units trading closing at $13.85 down 15 cents on the day. National Commercial Bank traded 1 million shares and slipped back 10 cents at the close at $21.10, the stock traded down to $19.17 at one stage.

Pan Jamaican Investments traded 20,500 units and gained 51 cents and closed at $54.51. RJR had just two trades which accounted for 2.989 million units and inched up 5 cents to close at $1.35. Sagicor Life put on 48 cents in closing at $8.99 but only traded 65,152 units between $8.50 and the closing price. Scotia Group had 17 trades that accounted for 712,000 units between $21.20 and $23.50 with the stock closing at $21.51up 42 cents on the day. Scotia Investment had 5 trades that accounted for 1.29 million units with the stock closing at $25.50 down $4 but it had a bid of $27 at the end of trading. Seprod traded 527,000 units at $14.61 and gained 11 cents and Supreme Ventures saw 771,000 units being exchanged for 10 cents less at $2.90 by the end of the day.

Based on trades for a few stocks it appears that some special deals were done resulting in adjustments in the prices of some, which does not conform to recent market movements.

JSEIndicesJun5

Filed Under: JSE Main Market, Stock Market Tagged With: , ,

TTSE: Stay as you are

June 6, 2013 by

Wednesday, 5th June 2013 | As if to indicate that the increased trading activity on Tuesday was just a flash in the pan, investors seem to have sent a message that what happened then can’t be expected to continue.

As a result, the market pretty much gave back today what it gained in Tuesday’s increased trades. With the exception 316,443 shares of National Commercial Bank (NCB) which changed hands with a value of $379,732 there was little else to seriously brag about in market activity on the Trinidad & Tobago Stock exchange which was tepid at best. At the end of the days trading there were no price changes of any of the mere 4 securities that traded.

Trading activity on the main market involved 325,148 shares, valued at $634,160. Apart from NCB which accounted for the vast majority of the volume that traded, Sagicor Financial Corporation traded 6,781 shares valued at $42,788. Republic Bank contributed 1,924 shares with a value of $211,640. Also trading was 29,940 units of Clico Investment Fund at a value of $630,237.

At the end of trading 5 stocks bids were higher and 3 stocks had offers were lower than the last selling price.

TTSEJun5

Filed Under: Stock Market, TTSE Market Tagged With: , ,