Pan-Jamaican Investment Trust will consider the payment of a third interim dividend for the year 2014 at a meeting scheduled for August 12, 2014.
Interim dividends of 60 cents per share was paid on June 20 and on March 31, this year.
Cargo Handlers advised that at a meeting scheduled for August 12, 2014, the Directors will consider the payment of an interim dividend for 2014. Previously, Cargo Handlers paid a dividend of 50 cents per share on March 6, this year. In 2013, the company paid a dividend of $1 per share on March 28, 2013.
Pan Jam & Cargo Handler considering dividends
August 6, 2014 by
[…] Pan-Jamaican Investment Trust enjoyed a strong 29 percent growth in profit, attributable to owners of the group, for the quarter ended June this year to $627 million. Profit of $486 million was realised in the 2013 second quarter. For the six months to June, net profit hits $1.07 billion, compared to $710 million for 2013, an increase of 50 percent. Earnings per share amounted to $5.09 for the six months and $2.99 for the latest quarter, earnings for all of 2014 should end up around $12 per share. Total revenue was higher for the quarter compared to last year, by $125 million, or 30 percent, due to the improved investment and property income, and ahead of last year for the 6 months by $185 million, or 21 percent as the group generated income of $544 million in the latest quarter versus $419 million in 2013 and $1.08 billion for the six months, compared to $895 in 2013. The share of results of associated and joint venture companies for the quarter is $537 million and is flat compared to last year, while the six month period share increased by 16 percent to $893 million. Last year’s results were significantly affected by the first quarter NDX impact on Sagicor.Investment income of $123 million, in the second quarter of 2014 was nearly three times higher than the $44 million in the similar quarter last year, principally as a result of better foreign exchange gains of $42 million, versus $23 million last year, and trading gains of $37 million, versus a loss of $21 million in 2013. Year to date investment income of $259 million is 79 percent ahead of 2013, due principally to trading gains of $89 million versus a loss of $29 million in the prior year. Property income grew $54 million, or 16 percent, compared to last year for the quarter and $83 million, or 12 percent, year to date. Group operating profit for the second quarter increased by $115 million, or 73 percent, compared to last year’s second quarter. For the year to date, group operating profit of $544 million is $157 million, or 40 percent, more than last year’s level. Operating expenses were contained to $273 million for the June 2104 quarter versus $263 million in 2013 and $536 million for the year to June from $508 million in 2013. Total assets at June 2014 amounted to $25.1 billion, compared to $23.3 billion at December 2013. Bank and other loans stand at $4.48 billion and stockholders’ equity stood at $19.4 billion from $17.8 billion at December last year, equating to a book value per stock unit of $92.34. Pan Jamaican is involved primarily in commercial property ownership and rental and owns just over 31 percent of Sagicor Group a life assurance and banking operations. […]