Shareholders 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.
Christmas treat for Carreras owners
NCB hikes dividend as Q4 profit rises
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.
Paramount more than doubles dividend
Paramount 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.
Montego Freeport to pay $1.42 per share
Montego 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.
Big pay day for JSE shareholders
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.
Cross currents impact Scotia Group
Faced with cross currents of one sort or the other Scotia Group has had to navigate some traitorous water over the past two years or so. They may be coming to the end but their latest results are not very encouraging. For with profit of $10.5 billion in 2013 up from $10.2 billion in 2012, Scotia could just manage $9.76 billion last year or $3.14 per share. The group so far seems to be retreating rather than going forward, with the latest results.
Scotia in its latest quarterly report reported net profit of $3.845 billion for the six months ended April 2015, a fall of $1.1 billion, from the restated net income of $4.96 billion for the period ended April 2014. For the quarter to April net profit came in at $2.3 billion versus $2.69 billion in the April 2014 quarter, reduction in foreign exchange trading and securities trading gains and increased in other operating costs were major contributors to the decline but were partially offset by increased fee income and insurance revenues.
Jackie Sharp CEO of Scotia Group
Net interest income after impairment losses for the period was $11.4 billion, an increase of $235 million when compared with the same period in 2014. There was a reduction in the impairment losses on loans of $242 million.
Operating Expenses for the six months amounted to $9.94 billion and increase of $434 million over the $9.4 billion in 2014 excluding the Asset Tax of $1.29 billion being recorded in the financial results for April 2015, compared to $484 million for April 2014.
The loan portfolio is up $10.8 billion or 7.9 percent over April last year, and after allowance for impairment losses, loans amounted to $147.55 billion as at April. Non-performing loans totalled $4.9 billion, representing 3.26 percent of total gross loans down from 3.45 percent last year and 3.34 percent as at January this year the bank advised investors. The Group’s aggregate loan loss provision as at April 2015 was $5.3 billion.
Earnings per share amounts to 74 cents for the quarter and $1.21 for the half-year and looks like ending the year just below $3 per share. The stock traded on the Jamaica Stock exchange at $25.50 on Thursday. A dividend of 40 cents was declared, payable on 15th of July.
Witco ekes out small profit gain
Trinidad’s West Indian Tobacco recorded an increase of 6.9 percent in profit before taxation of TT$136.8 million, for the three months ended March 2015, over the corresponding period in 2014.
Profit after taxation for the period came in at $98.2 million, reflecting an increase of just 1.5% over 2014. The Company paid $3.3 million under a tax amnesty, in respect of an ongoing matter taxation relating to the company being slapped with additional taxes imposed by the ta authority after an audit.
The improvement in profit arose from an increase in revenues to TT$223.5 million, a slight increase over the $215 million reported in the first quarter of 2014 net of excise duty. The company increased the prices on its products late in 2014, the increase revenues suggest that there has been some fall out in sale volumes as a result, but the company benefited from reduced cost other than cost of sales amounting to $$3.5 million. Earnings per share came out at $1.17, based on the results the Board approved the payment of a first interim dividend of $1 per ordinary share, paid in May 2015.
Based on last year’s results, the first quarter is the one with the lowest profit and the last quarter with the Christmas celebration is the best, the company should therefore go on to better the $5.81 earned last year, to end around $6.50 per share.
The stock closed on the Trinidad and Tobago Stock Exchange at $125.31 on Friday at PE ratio around 19 times this year’s estimated earnings.
Carreras pays $2 Mayberry 20 cents
Carreras declared an interim dividend of two dollars ($2) per share unit, payable on June 25, 2015 to shareholders on record as at June 11, 2015. The X-date is June 9. The company paid an interim dividend of $1.60 per share payable on March 12, 2015
Dividends paid prior to the one in March are, $1 per stock on December 18, and an interim dividend of $1.20 per stock unit on December 11, 2014. In September, last year Carreras paid an interim dividend of $1.20 per stock unit, $1.75 per stock unit was paid on June 26. A special capital cash distribution of $1.34 per stock unit was paid on July 31.
Mayberry Investments declared a dividend of twenty cents per share (20 cents), payable on June 17, 2015 to shareholders on record as at June 10, 2015. The X-date is June 8. The company last paid a dividend of 12 cents per share on June 18, 2014.
Board of Directors of JMMB Group will convene a meeting on Monday June 1, 2015 to consider an interim dividend payment to ordinary shareholders.
Jamaica Money Market Brokers the forerunner to JMMB Group last paid a dividend of 16 cents per ordinary on December 16, 2014, prior to that the company paid a dividend of 17 cents per ordinary share on June 26, last year.
Supreme bumps up dividend again
Supreme Ventures approved the payment of an interim dividend of 14 cents to be made on 27th May 2015 to shareholders on record as at 14th May 2015 representing an increase of 55.6 percent over the amount paid in 2014.
The approved payment translates to 16 percent rate of return per annum. In addition the company will also be paying the final portion of the special dividend they declared on 2nd March 2015.
The company announced in March, a final ordinary dividend for the year ended December 2014 of 8 cents per share, payable on March 21 and a special dividend of 23 cents per share to be paid on March 21 and 4 cents per share payable on May 27.
SVL paid dividends of 3 cents per share on January 8, last 
year as well as 3 cents in March, 9 cents in May, another 3 in September and 5 cents per stock on December 9, last year. The final regular dividend for 2014 brings the total relating to the 2014 profit to 19 cents per share or 54 percent of profits for the year. The total dividend payment just approved by the company totals 31 cents per share and is just short of the total profit for 2014, of 35.2 cents per share.
The company just reported a 20 percent increase in after tax to $405 million for the three-month period to March. The latest announcement of the results and dividends are likely to push the stocks much higher in the coming week.
Profit up 92% spawns $817m SVL dividends
Supreme Ventures (SVL) will be making a surprise dividend payment to its shareholders in March and May. The company just announced a final ordinary dividend for the year ended December 2014 of 8 cents per share payable on March 21, 2015 to shareholders on record as at March 6. SVL also declared a special dividend of 23 cents per share to shareholders on record as at March 6, with 19 cents per share to be paid on March 21 and 4 cents per share payable on May 27, 2015. The stock will traded ex-dividend on March 4. The ex-dividend date for both dividends is March 4.
SVL paid dividends of 3 cents per share on January 8, last year as well as 3 cents in March, 9 cents in May, another 3 in September and 5 cents per stock on December 9, last year. The final regular dividend for 2014 brings the total relating to the 2014 profit to 19 cents per share or 54 percent of profits for the year. The total dividend payment just approved by the company totals 31 cents per share and is just short of the total profit for 2014 of 35.2 cents per share.
The company just reported full year results showing profit after tax rising by 93 percent to $930 million from revenues that climbed by 21 percent to $41.3 billion. The profit provided a decent return on equity of 24.2 percent. Earnings per share ended at 35 cents. The December quarter was a very good one for the company with revenues of $11.3 billion and profit after tax of $313 million more than half of the $617 million generated to September.
The company enjoyed cost reduction in several line items with professional fees being slashed the most falling $81 million to $239 million. Overall operating cost fell from $2.77 billion to $2.65 billion in 2014.
Credible as the gains in profit is for 2014, Management has lots more work ahead in cutting losses in sports betting amounting $194 million up from $130 million in 2013 and Gaming lounges losses of $461 million versus $556 million in 2013. For the December quarter gaming losses amounted to $85 million compared to an average of $126 million in the previous three quarters and sports betting contributed $46 million in losses for the final 2014 quarter. Without the losses in these two areas profit would have been much larger. IC Insider is forecasting profits for 2015 to be in the order of 45 cents per share.
At the end of the year the company had cash funds of $2.22 billion and the dividends amounts to $817 million will consume some of the cash on hand by time the payments are made later this month and in May.