Dividends — Page 13

Dividends: Carreras cuts, Grace ups

July 30, 2013 by IC Insider.com

Carreras | Carreras has cut its interim dividend to be paid in August from $1.50 paid last year to $1 this August. The decision by the Board of Directors to approve a lower amount must be seen as a reflection of the uncertain situation with demand of its product in light of an announcement last week that sales had slipped sharply with the advent of the ban on smoking in public spaces.

Carreras Limited disclosed today that it declared an interim dividend of $1.00 per share per share payable on August 28, 2013 to shareholders on record as at August 14, 2013. The ex-dividend date is August 12, 2013. The dividend paid at the same time last year was an interim dividend of $1.50 per share on August 23.

Grace Kennedy | The Board of Directors of Grace Kennedy increased its dividend partially in line with the increase in profits for the period. Accordingly, the company declared an interim dividend of 78 cents per share payable on September 30, 2013 to shareholders on record as at September 11. The ex-dividend date is September 9. The last dividend paid was 70 cents per stock unit on March 27, this year. In September last year a dividend of 70 cents per share was paid.

Filed Under: Company News, Dividends Tagged With: Carreras, Dividends, Grace Kennedy

NCB cuts dividend in half

July 26, 2013 by IC Insider.com

NCB declared a dividend of just 8 cents in its latest dividend declaration. The last payment was 16 cents per share paid on May 24 and 23 cents in March 2013.

The latest dividend will be paid on August 26 and the ex-dividend date is August 9, 2013. The August payment represents a decrease from 17 cents paid in 2012 and the May 2013 payment represents a decrease from $0.21 paid in May last year. Further back in time, the dividend pay-out ratio for the 2012 financial year to September amounted to 27% and for the 2011 financial year 25.7% compared to 42.2% for September 2010.

The cut and carving of dividend payments from one period to the next is in keeping with an unpredictable policy the company has been executing despite a recent re-publishing of the Dividend policy (see below). This is in stark contrast with a very consistent and predictable policy of Scotia Group and many other companies on the stock exchange.

NCB Dividend policy, 2011 Annual Report | The Board of Directors of National Commercial Bank recognizes the importance of capital in meeting the needs of shareholders, investors and the business. To this extent, a dividend pay-out rate has been determined.

The Board of Directors will declare, at its discretion, dividends to shareholders. These dividends will be paid from the realised earnings of NCB. The dividends will be subject to a maximum of 50% of the ordinary realised profit earned each year and will be applied after taking account of all transfers. In the event that the pay-out is less than 50% in any one year, the Board of Directors reserves the right to increase future distributions proportionately.

Further, the Board, at its discretion, may distribute to its shareholders the full amount of any and all realised gains arising from non-recurring or extraordinary transactions. The Dividend Policy is consistent with the Capital Management Plan and is reviewed annually or more or less frequently as determined by the Board.

Filed Under: Company News, Dividends Tagged With: Dividends, JSE Company, NCB

New prices for Lasco on Friday

July 4, 2013 by IC Insider.com

All three Lasco listed companies that approved a 10 for 1 stock split at Extraordinary General meeting on June 26, 2013 will see the stocks trading at the new split price of less than $2 per share on Friday. The record date for the split is in the 9^th of July which is not significant.

Stock split by the numbers | Lasco Manufacturing will have 4.087 billion shares available to trade, Lasco Distributors 3.3664 billion shares in issue and Lasco Finance 1.228 billion shares. At the close of trading on Wednesday 3rd July 2013, Lasco Manufacturing closed at $16.50, Lasco Distributors at $17 and Lasco Finance closed at $12.77. Based on these closing prices, it is not possible for the stocks to close above the equivalent of $2 on Friday.

Improved results for the first quarter of the 2014 financial year, which ends next year March, could help push the prices up when released in early August. However, early fervour after the split on Friday could well move prices to the extent that only exceptional results can move the stock prices higher.

Filed Under: Company News, Dividends Tagged With: JSE Company, Lasco, Stock Split

Blue Power dividend

July 1, 2013 by IC Insider.com

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Blue Power Group Limited declared a dividend of 15 cents per share payable on August 16, 2013 to shareholders on record as at July 31, 2013. The ex-dividend date is July 29, 2013.

The company last paid a dividend of 10.5 cents per share on September 6, 2012. The latest dividend is in keeping with the rise in profits to $1.84 per share compared with the earnings of 83 cents in 2012.

The board also agreed to introduce a resolution at the next Annual General Meeting to modify the Articles of Association to permit the appointment of two more directors to the Board which consists of six members at the present time.

To know more about Blue Power, read Blue Powered huge profit increase posted 16th June 2013.

Filed Under: Company News, Dividends Tagged With: Blue Power, Dividends, JSE Company

All 3 Lasco companies approve splits

June 27, 2013 by IC Insider.com

All three Lasco listed companies approved a 10 for 1 stock split at yesterday’s meetings called solely for that purpose. While the notice suggest that the splits take effect immediately the stocks traded at the old price levels in Thursdays trading. Lascelles Chin, the Chairman of all three companies confirmed to IC Insider that the record date for the Lasco splits is July 9, 2013 and the ex-date is July 5, 2013.

It will mean that Lasco Manufacturing will have 4.087 billion shares, Lasco Distributors will have 3.3664 billion shares in issue and Lasco Finance 1.228 billion shares. The split will mean that the stocks will trade for less than $2 initially as they are all priced under $16 now. Improved results for the first quarter of the 2014 financial year which ends in March should help pushed the prices up when they are released by early August this year.

Filed Under: Company News, Dividends Tagged With: Dividends, JSE Company, Lasco, Stock Split

Blue Powered huge profit increase

June 16, 2013 by IC Insider.com

A Junior Market stock should hit the roof next week as the company Blue Power not only reported record profits, it blew away last year’s results with a stunning 121 percent increase as revenues rose by just 22 percent for the year ending April.

Profits for the financial year stood at $104 million compared to $47 million in the same period last year, an increase of 121 percent. The Lumber Depot division contributed $61 million to the profit, improving by 111 percent over the previous year while the soap division accounted for $43 million, an improvement of 137 percent over the previous year.

The results translate to return on equity of an attractive 35 percent up from 21 percent in 2012. The net asset value is $6.11 and the stock price of $8.65 is less than 1.5 net book value.

Combined sales for the year ended April, 2013 were $1.045 billion compared to $863 million in 2012, an increase of $182 million or 21 percent. For the year, the Lumber Depot division achieved sales of $742 million versus $620 million the previous year, an improvement of 20 percent while the Blue Power soap division moved to $303 million from $243 million, an increase of 25 percent.

April quarter | For the fourth quarter sales rose to $339 million compared to $224 million for the same period last year, an increase of $115 million or 51 percent. Comparing the fourth quarter with the same period last year, the increase in sales for the Lumber Depot division was 77 percent, from $156 million to $276 million while sales for the Blue Power soap division actually declined by 6 percent.

Revenues for the 4^th quarter was by far the best of any of the quarters with the December quarter coming closet with revenues of $267 million. The percentage revenue increase was also the best with a 13 percent increase in the December quarter coming closest. The latest quarter profit was the highest of any quarter with July and December quarters coming closest at $24.7 million and $23.2 million respectively.

Management’s comments | In commenting on the results, management said “The extraordinary enhancement in both sales and profits in the Lumber Depot division was due to two main factors: the first and most important being the award of a significant supply contract by an international agency and the second being the strategic management of our purchases of materials for resale. The overall increase in sales and profits of the Blue Power soap division was achieved largely as a result of a significant increase in sales of bathing soaps which are slowly but surely gaining acceptance in the market place.

As a result of the substantial improvement in profits, our balance sheet is healthy which will allow us to expand as well as be in a position to make adequate purchases of materials for resale and raw materials for manufacturing at reasonable prices.”

The company’s finances is in a healthy position with virtually no debt. Current assets of $390 million of which cash is $145 million up from $58 million in 2012. Current liabilities is $88.5 million.

Investor’s Choice is forecasting 2014 earnings close to $3 per share.

Update Wednesday 19th June | The Board of Directors of Blue Power Group Limited will meet on Thursday, June 27, 2013 to consider the payment of a dividend.

Filed Under: Company News, Dividends Tagged With: Blue Power, JSE Company

Dividends & Insider Trades

June 10, 2013 by IC Insider.com

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: Dividends, Jamaica Producers, JPS, Seprod

Proven, FCIB declare dividends

June 3, 2013 by IC Insider.com

Proven delivers 10% cash return | PROVEN Investments has declared a dividend of US$0.0032 per ordinary share payable on June 26, 2013 to shareholders on record as at June 12, 2013. The stock will trade ex-dividend date is June 10, 2013.

This brings the amount of ordinary share dividends to US97 cents in the last twelve months. The dividend yield is close to 10 percent based on the stock price in early June 2012.

A dividend of US$0.0022 per ordinary share was paid in March this year. One was paid in December 2012 amounting to US$0.0025 per share in August they paid US$0.0018 per share.

The company will also pay a dividend of $0.10 per preference share payable on June 24, 2013 to shareholders on record as at June 10, 2013. The ex-dividend date is June 6, 2013.

First Caribbean International Bank | Operating throughout the Caribbean region and listed on the Barbados, Trinidad and JSE exchanges, First Caribbean has declared an interim dividend of US$0.015 cents per share payable on June 28, 2013 to shareholders on record as at June 13, 2013. The ex-dividend date is June 11, 2013.

The bank reported net income for the six months ended April, 2013 of US$34 million that is up $4.6 million versus net income of $29.4 million for the same period in the prior year thanks to a sharp reduction in loan loss provisions. Total revenues of $263.3 million were down $5.9 million and continue to be challenged by the struggling economic conditions of the region. Loan loss impairment expenses were down $22.4 million.

Filed Under: Company News, Dividends Tagged With: Dividends, First Caribbean, Proven

Lasco companies splitting up shares

May 27, 2013 by IC Insider.com

Lasco Manufacturing, Lasco Distributors and Lasco Financial Service will be holding extraordinary general meetings starting between 10 and 11 o’clock Wednesday, June 26, 2013 at the Knutsford Court Hotel, 11 Ruthven Road, Kingston for shareholders of the companies to consider the recommendation to split the shares of the companies by subdividing each share into ten (10) new shares. Each company will convene separate meetings on the morning.

The release to the stock exchange did not state the reasons for the move. The shares, which are trading between $8 and $12.50, have had limited supply in recent months as the supply of shares in the local market gets tighter as more investors opt for stocks as a better investment.

The stock split will only give the shares a semblance of liquidity but it won’t really change things as the current price of the three companies are not high. Ultimately, what will be needed is for more of the existing shares to be sold to the market. In reality, 20 percent of small capitalized companies will not create much liquidity and it will worsen if the companies perform well and investors hold on to their investments to reap the benefits of future growth.

Filed Under: Company News, Dividends Tagged With: JSE Company, Lasco

Dividends coming

May 27, 2013 by IC Insider.com

Scotia Group | Scotia Group Jamaica approved a second interim dividend of 40 cents per stock unit payable on July 4, 2013, to stockholders on record at June 14, 2013. The ex-dividend date is June 12, 2013. The group previously paid its first dividend of 40 cents per stock for the fiscal year at the end of March. In 2012, the group paid 37 cents in each quarter but it was raised to 40 cents commensurate with a payment that was made in January this year. The group pays dividends on a quarterly basis.

Scotia Investments | Scotia Investments Jamaica approved a second interim dividend of 45 cents per stock unit payable on July 4, 2013, to stockholders on record at June 14, 2013. The ex-dividend date is June 12, 2013. The company previously paid its first dividend of 45 cents per stock for the fiscal year at the end of March. In 2012, the group paid 40 cents in each quarter but it was raised to 45 cents with a payment that was made in January this year. Scotia Investments, which is majority owned by Scotia Group Jamaica, pays dividends on a quarterly basis.

JSE Pref | The Jamaica Stock Exchange Limited approved quarterly preference share dividend of $0.0290 per share payable on May 31, 2013 to shareholders on record as at May 24, 2012. The ex-dividend date is May 21, 2013. This will be the last dividend for these shares as they will be redeemed by the end of May.

Proven consideration | The Board of Directors of Proven Investments Limited will consider making a dividend payment to both its ordinary and preference shareholders at a meeting to be held on May 29, 2013.