Trading closed on the Trinidad & Tobago Stock Exchange on Wednesday with 15 securities changing hands including 1,000 units of the US Mutual fund, compared to 13 on Tuesday.
At the close 5 stocks advanced, 4 declined and 6 were unchanged as 235,696 shares traded at a value of $9,843,087 compared to Tuesday’s 113,158 shares valued at $864,641.
The Composite Index lost 0.44 points to 1,233.29, the All T&T Index gained 0.08 points to 1,802.90 and the Cross Listed Index declined 0.013 points to close at 89.06.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 9 stocks with bids higher than last selling prices and 6 with lower offers.
Gains| Clico Investment gained 1 cent to close at $22.51 trading 62,153 units valued at $1,399,060, JMMB Group closed at $1.31, with a 1 cent gain exchanging 3,705 shares, Readymix advanced 62 cents, closing at $12.62, with 912 shares changing hands. Sagicor Financial closed at $9.05, gaining 3 cents with trades of 2,271 shares and Scotiabank added 6 cents to close at $58.06 with 60,000 units traded at a value of $3,483,600.
Losses| First Caribbean International closed at $8.57, with a loss of 3 cents trading 200 shares and Guardian Holdings traded 1 cent lower to close at $15.44 exchanging 103 units, West Indian Tobacco lost 1 cent and closed at $126.99 trading 35,490 shares valued at $4,506,880 and Bourse Brazil Latin Fund traded 1,000 units at a 52 weeks’ low of US$8.08, after losing 2 cents.
Firm Trades| First Citizens closed at $32 with 232 units traded, even as reports out of Trinidad suggest that the block of shares the government placed on the market was not fully taken up. Massy Holdings closed at $15.43 exchanging 82 shares, NCB Financial Group closed at $3.99 with trades of 34,800 shares, One Caribbean Media traded a mere 10 shares at $16.85, Scotia Investments closed at $2.75 with 29,000 units changing owners and Trinidad & Tobago NGL exchanged 5,738 units at $22.50.
Advancing stocks just ahead in Trinidad
Juniors up 44 points to record close
The Junior Market of the Jamaica Stock Exchange ended trading at yet another record closing high with a big gain of 43.64 points, with an increase of 1.36 percent to 3,247.20 points on Wednesday. The market surged over 72 points to a record close on Tuesday.
Key Insurance traded at a 52 weeks’ high of $3.95 while Jamaican Teas was in good demand and ended as the market leader with over 500,000 shares.
Dividend consideration for Berger
The audited financial statements for Berger Paints Jamaica will be considered at a meeting of the company’s Board of Directors at a meeting scheduled for Friday, April 28.
The board is expected to approve the audited statements for the year ended March 31 and to consider payment of a Dividend.
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. IC Insider.com forecast is for earnings of $1.30 per share for 2016 and $1.90 for 2018 that should result in dividend of approximately 50 cents per share for 2016 and around 70 cents for 2018.
$190m JSE dividends for 2016
The Jamaica Stock Exchange announced the payment a final dividend for 2016 of 3.56 cents per share in May, bringing the for 2016 profits and $190.2 million, Mrs. Marlene Street-Forrest, newly promoted Managing Director of Stock Exchange informed IC Insider.com.
In 2015 we paid $140.2 million, representing 80 percent of consolidated profit and $190.2 million of the 2016 profits a total of 85 percent of group profits Street-Forrest stated. The payments over the last two years is in contrast with the stated dividend policy is no less 20 percent of profits to be paid in each year.
The payment was approved at a Special Meeting of the Board of Directors held on April 25 and is payable on May 31, 2017 to shareholders of record on May 11. The stock will start trading ex-dividend on May 9, 2017.
Last year, the JSE paid a dividend of 12.96 cents per share in December and a dividend of 53 cents per share, on May 6, 2016 based on number of shares in issue at the time. The JSE later in the year split their issued shares into 5 for each one.
The JSE will need to enjoy another big break in 2017, if they are to beat the results of $224 million made in 2016 from revenues of $921 million. In the first quarter of 2016, the JSE earned one off income estimated by IC Insider.com around $110 million from the sales of the Desnoes and Geddes shares to Heineken after the latter acquired majority shares in the local company.
Falling stocks 2 to 1 over gainers
Trading on the Trinidad & Tobago Stock Exchange resulted in 13 securities changing hands on Tuesday compared to 9 on Monday. Market activity led to 3 stocks advancing, 6 declining and 4 unchanged with 113,158 shares traded at a value of $864,641 compared to Monday’s 50,550 shares valued at $1,371,638.
The Composite Index lost 0.12 points to 1,233.73, the All T&T Index declined 0.28 points to 1,802.82 and the Cross Listed Index added 0.01 point to close at 89.19.
IC bid-offer Indicator|The Investor’s Choice bid-offer ended with 8 stocks with bids higher than last selling prices and 4 with lower offers.
Gains| Sagicor Financial gained 2 cents to close at $9.02 exchanging 1,000 units, Scotia Investments closed at a 52 weeks’ high of $2.75, with gains of 5 cents, trading 11,000 shares and Trinidad & Tobago NGL added 1 cent, closing at $22.50, with 250 shares changing hands.
Losses| Clico Investment closed at $22.50, with a loss of 1 cent trading 19,179 shares valued at $431,534, JMMB Group traded 1 cent lower to close at $1.30 exchanging 71,262 units, National Flour Mills lost 2 cents to close at $2.53 with 800 shares changing hands. Readymix traded at $12, losing 62 cents with an exchange of 5,583 units, Republic Financial Holdings closed at a 52 weeks’ low of $101.90, with a 10 cent loss, trading 1,047 shares and Trinidad Cement lost 1 cent to close at $4.21 with trades of 116 units.
Firm Trades| First Citizens closed at $32 with 920 units changing owners, Guardian Holdings closed at $15.45 with trades of 100 shares, Massy Holdings closed at $51.43 exchanging 1,611 shares and One Caribbean Media traded 290 shares at $16.85.
Junior Market jumps sharply to new record
The Junior Market of the Jamaica Stock Exchange traded up more than 129 points after midday on Tuesday.
The market index hit a new intraday record high of 3,261.11 points with Lasco Manufacturing trading at a new high of $6.25 with over 4 million shares trading and Lasco Distributors trading up to $7.30 with 569,000 shares. The Junior Market index has since slipped back to 3,212.92, up 81.29 for the day at 12:30 but the All Jamaica Composite index dropped 3,016.25 points to 248,857.65.