The Jamaica Stock Exchange (JSE) will pay out $74.33 million in the form of a dividend in July. The company listed 140.250 million ordinary shares on the exchange in 2013 is making its first dividend payment since listing.
JSE board of directors met on Monday and declared the payment of a dividend of fifty-three cents (53 cents) per share unit, payable on July 10 to shareholders on record as at June 26, 2015. The stock will trade ex dividend on June 24, 2015.
The share closed 2014 at $1.57 and gained 237.58 since the start of 2015, helped considerably by a jump in profit in the first quarter from a loss of $2 million to $87 million. A pick up in stock market activities also helped in driving demand for the stock as investors saw higher income and profit flowing in future quarters. The JSE reported a very small profit of $3 million for the year ended December last year. The dividend enjoys a yield of 33.75 percent based on the price at the end of last year and 10.5 percent based on the price last Friday and 9.2 percent based on Tuesday’s closing price of $5.75.
Big pay day for JSE shareholders
June 9, 2015 by
