Cargo Handlers’ share goodies

August 10, 2016 by

Cargo Handlers to split stock 10 for 1.

Cargo Handlers to split stock 10 for 1.

Cargo Handlers‘ shareholders will see a 10 to 1 stock split when they vote on the recommend stock split by directors. Stockholders will also be asked to authorize an increase in the capital of the company to 466,200,000 shares from the existing amount of 40 million units, to accommodate the split. No date has been set for the meeting to approve the split.

The shares now issued amounts to 37,465,830 units but the stock trades infrequently as very few are in the hands of the general public. The stock split is expected to enhance liquidity of the stock.
The stock last traded at $56 on the junior market of the Jamaica Stock Exchange having shot up from $46 after the announcement was made that the directors were meeting to recommend a split. There are currently ids to buy the stock between $60 and $64.01 for 10,877 units, the last offer was 919 units on at $66, at the close on Monday.
The directors declared an interim dividend of $1.35 per share to be paid on September 13, with the ex-dividend date set for August 17.
The company enjoyed a buoyant June quarter, with revenues rising 55 percent from $56 million to $87 million and for the nine months by 36 percent to $245 million from $182 million. Profit before tax rose to $53 million from $29 million in 2015 and after taxation, profit ended at $46 million from $29 million. For the nine months, profit rose from $108 million to $143 million before tax, with the 2016 results ending at $125 million after tax, there were no taxes in 2015.
Management attributes the strong growth in third quarter revenues and profit, to increased activity in the Montego Bay region and increased port activity, flowing from the conversion of the Jamaica Public Service power plant to LNG gas.
Earnings per share for the quarter ended at $1.23 and $3.32 for the nine months. Full year’s earnings should be just under $5 per share but scarcity of the stock is driving the valuation up.

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$74m pay out by JSE

April 22, 2016 by

JSE signThe 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.

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JSE to consider a dividend

April 7, 2016 by

JSE buld with blue skyThe Jamaica Stock Exchange (JSE) has advised that the Board of Directors will meet on April 19, 2016 to consider the payment of an interim dividend.
In December last year, the company made a second dividend payment of 47 cents per share on December 30, to shareholders on record as at December 23 following a payment in July of 53 cents per share which brought the total pay-out to $1 per share for a total $140 million. Last year’s dividends provided a staggering 63.7 percent yield based on the 2014 closing price of $1.57. With the price of the stock in the $20 range in 2016, the yield is bound to drop dramatically to around 10 percent or less. The stock last traded on Wednesday on the Jamaica Stock Exchange at $19.55.
The company reported earnings for 2015 of $1.25 per share or $175 million, up from only $3 million in 2014. JSE had the best quarter in March with revenues of $259 million and profit of $87 million after tax. The 2016 first quarter seems set to better that of the 2015 first quarter with a big $110 million income from trading a block of Desnoes & Geddes shares almost equal to the estimated $120 million hauled in from the block of Scotia Group shares that was transferred from the Canadian parent to a Caribbean based one.

Marlene Street Forrest - General Manager of the JSE

Marlene Street Forrest – General Manager of the JSE

The December 2015 quarter had the next best quarter with revenues of $196 million but with profit before tax of $40 million much lower than in the September quarter as added cost eroded the profits that should flow from the higher revenues.
What should help boost the first quarter results is added business undertaken by the exchange particularly, the registrar services, for handling of the repo business and increased stock market activity in 2016 over the first quarter of 2015. Last year, for the first quarter, regular trading was $4.9 billion while for 2016 its $6.44 billion, for a 31 percent increase. The JSE also engineered increases in fees charged for some of it services.

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Carreras dividend yielded 20% in 2015

February 22, 2016 by
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Carreras nme Carreras will be paying an interim dividend of $1.80 per share to shareholders on March 17 and brings the total dividend in the last twelve months to $8.94 for a yield of 20.2 percent based on the stock price of $44.10 at the beginning of March 2015.
In 2015, the company paid an ordinary dividend of $1.40 per share in December, a special capital cash distribution of $1.94 per on December 17, one dollar and twenty cents ($1.20) per share in September 3, two dollars ($2.00) per share unit in June a special capital cash distribution of sixty cents ($0.60) per share in September. March 12, last year an interim dividend of one dollar and sixty ($1.60) per share was paid.
The stock is now trading at $66.50 on the Jamaica Stock Exchange. Dividends to come are not likely to be as high as in 2015. The special dividends that were paid, should be at an end, leaving only ordinary dividends to be paid, as such the yield is likely to fall to just over 10 percent based on the current price.

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Dividend triples for H&L owners

January 3, 2016 by

H&LShareholders of Hardware Lumber (HL) will be paid an interim dividend for the year 2015 of One Dollar and Nine cents per stock unit on January 29, this year, to shareholders on record as at the close of business on January 15.
The ex-dividend date for the payment is the January 13. The company paid 32 cents per share in dividends in 2014 and 30 cents in 2013.
The payment comes against the background of lower profits in the year to September and acquisition of the majority shares by a group of investors.
Total revenue for the nine months to September 2015 was $5.37 billion or 2.3 percent more than the comparative period in 2014. Profit after tax for the nine-month to September 2015 was $64 million, 43 percent less than the $113 million for the same period in 2014 and earnings per share of 79 cents, compared to $1.40 for the similar period in 2014.
On Thursday December 30, Grace Kennedy’s 58.15 percent interest amounting to 47,013,417 shares in Hardware & Lumber, were traded over the Jamaica Stock Exchange at $18.50 each.
The shares were bought by Argyle Industries Inc. (“Argyle”) a St. Lucian Company special purpose vehicle incorporated for the purpose of acquiring and holding the Investor’s equity interests in Hardware & Lumber.

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A rich 2015 for JSE shareholders

December 10, 2015 by

JSe online logoShareholders in Jamaica Stock Exchange (JSE) are having a wonderful 2015. The stock last traded at $1.57 in December 2014 and has since shot to $16 for a gain of 919 percent but if that was not enough the company has declared a dividend of 47 cents per share payable on December 30, to shareholders on record as at December 23. As great as the gains for 2015 has been so far for the JSE stock price is still lags some of the best gains ever recorded for the market with highest being West Indies Glass with a n astounding 3,438 percent in 1985 followed by Jamaica Flour Mills with 2,054 percent in 1984.
JSE highest gns -12-15The stock will trade ex-dividend on December 21. In July this year, the JSE paid 53 cents per share which brings the total payout to $140 million and to $1 per share making for a dividend yield to a staggering 63.7 percent based on the 2014 closing price.
The JSE reported earnings of $139 million in nine months to September this year, from $8 million in 2014 and seems set to increase profits in 2016 that should push to stock up even further with strong prospects of another year of big dividend payment.

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Christmas treat for Carreras owners

November 13, 2015 by

CarrerasTobaccoFree280x150Shareholders of Carreras are in for a nice Christmas treat with a big distribution in December. The company announced the payment of an interim dividend of $1.40 per share payable on December 10, for shareholders on record as at November 27, 2015 and a special capital cash distribution of $1.94 per share payable on December 17, to shareholders on record as at November 27, 2015.
The ex-dividend date for both payments is November 25, 2015. The payment in December will bring the amounts paid in 2015 to $8.74, with a dividend yield of 24 percent, based on the stock price at the start of the year. In addition, the stock has gained 54 percent so far this year, for a total return of 78 percent. Going forward investors can expect to receive around $6 per share as most of if not all of the capital distributions are over for now with the full amount that funded capital distributions were due from the government and the amount is now fully collected.
Prior to these proposed payments, dividends were paid in September, amounting to $1.20 per share along with and interim special capital cash distribution of $0.60 per share. An interim dividend of $2 per share was pay on June 25 and an interim dividend of $1.60 per share was paid on March 12.
Interim results to September, show revenues and profit rising in the quarter, with revenues climbing to 15 percent for the quarter to $3.06 billion and 8 percent for the half year to $5.68 billion. Profit rose 24 percent for the quarter to $762 million and 19 percent for the half year to $1.39 billion. Earnings per share amounts to $1.57 for the quarter and $2.85 for the half year. The company is on it way to just about exceed $6 per share for the fiscal year.
The stock is listed on the Jamaica Stock Exchange and last traded at $56.

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NCB hikes dividend as Q4 profit rises

November 13, 2015 by

NCB reports improved Q4 profit but yearly amount is flat

NCB reports improved Q4 profit but yearly amount is flat


National Commercial Bank hiked their dividend payments for 2015 by 11 in announcing the payment of a final dividend of 85 cents per share, to be paid December 11 with the record date of November 27. NCB paid three interim dividends of 45 cents each, during 2015, the latest brings the total to $2.20 and is up from $1.98 in 2014. The final payment for 2014 was 96 cents with dividend payments amounting to 35 cents per share in August and May and 32 cents per share on February.
The dividends for 2015, represent a yield of 12 percent on the price of the stock at the start of the year of $18.50.
NCB reported profit of $12.3 billion for the year ending September slightly lower than the banking group’s revised 2014 profit of $12.33 billion which is revised upward from $11.6 billion.
For the final quarter profit grew 12 percent to end at $3.75 billion for earnings per share of $1.52 from $3.36 billion in 2014. For the full year earnings per share amounts to $5. Pretax profit for the quarter is up 17 percent to $4.8 billion.
The result for 2014 was revised upward from for earnings per share of $4.73 to $5.01. Earnings should move to the region of $6 per share in 2016.
The 2014 results have in $650 million relating to gains on acquisition of a subsidiary and sale of associated company which makes the 2015 performance much better than it appears. Credit losses fell from $2.3 billion in 2014 to $1.79 billion in 2015 and for the quarter $387 million versus $987 million in 2014.
NCB made decent progress in growing income and keeping cost under control. Loans grew by 5 percent year over year to reach $165 billion, growing this asset will allow for continued growth profitability. The group also enjoyed growth in investment securities and pledged assets which moved from $265 billion to $$276 billion. Customers’ deposits and repurchase agreements that helps to fund asset growth, moved from $337 billion to $328 billion.
NCB shares are listed on the Jamaica Stock Exchange and last traded at $34.50.

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Paramount more than doubles dividend

November 2, 2015 by

PTL offParamount Trading will be paying a final dividend of 39 cents on November 23, 2015 to shareholders on record as at November 12.The ex-dividend date is November 10, 2015.
The company made profit of 95 cents per share for the fiscal year to May 2015 and 61 cents in 2014. The 2015 payment represents 41 percent of profit and equates to a dividend yield of 14.89 percent based on the price of $2.62 at the start of the year. For the quarter ending August earnings grew 27 percent to 28 cent per share versus 22 cents in the same period in 2014.
Paramount Trading paid a dividend of 15.1 cents per share payable on December 12 last year.
the company’s shares are listed on the junior market of the Jamaica Stock Exchange and last traded at $7.10.

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Montego Freeport to pay $1.42 per share

September 25, 2015 by

MFT entranceMontego Freeport will be paying $1.42 per share dividend as a capital distribution on October 28, the company announced recently. The dividend payment is expected to be ratified at the upcoming annual general meeting of the company to be held in Montego Bay, on October 8.
The payment will consume $826 million of the $1.1 billion in cash held at the end of March this year. After making that payment there will still be assets amounting to $600 million or just over $1 per share to be distributed which includes assets for sale amounting to $328 million.
Montego Freeport reported profit of $67 million for the 2015 year and $12 million for 2014 from operating and other income of $97 million and $61 million respectively. The company was previously listed on the Jamaica Stock Exchange but a set of short sighted directors recommended liquidating the assets and closing the company which the shareholders bought into and approved.

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