Top 5 JSE dividend paying stocks now


Companies with earnings that are consistently growing are usually the best dividend paying stocks to invest in if income is a prime objective. They will have more room to make increased dividends payments in the future.
Investors looking for the best dividend paying stocks on the Jamaica Stock Exchange should take the above factors into consideration. It is also a good factor to consider when buying stocks that are likely to increase in value over time.
On the Jamaica Stock Exchange, the Main Market, Carreras is the king of dividend payment with a yield of 11 percent based on the latest stock price of $8 in 2023, followed by Transjamaican Highway and at 7 percent, Scotia Group at 5 percent based on the last dividend paid of 40 cents and annualised, at a then stock price of $34. What is interesting about Scotia is the traditional metric is for the company to pay between 40 to 50 percent of profits.
Scotia historically pays just above 40 percent of profit, but that seems to have been interrupted as a result of the negative impact that flowed from the Covid 9 economic dislocation. The company reported earnings of $5.54 and that would suggest an annual dividend of $2.20 which would translate to a dividend yield of 6.7 percent with 2024 likely to be higher.
The Junior Market has two stocks with attractive yields Dolphin Cove and MailPac at 7 percent each. The payout for MailPac represent a full years’ profit.
Yields may have dipped in some cases but that does not change the longer term prospects.

Profit to jump 40% in 2024 at Wisynco

Profit after tax for the first quarter ending September this year jumped 20 percent at Wisynco Group to $1.55 billion in the current year from $1.3 billion in 2022. Profit before tax also grew by 20 percent from $1.73 billion in 2022 to $2.1 billion, but profit is projected to jump 39 percent for the current year to $6.8 billion, ICInsider.com projections show.
The profit performance resulted from a 15 percent rise in revenues from $11.95 billion in 2022 to $13.73 billion in the current year. Although revenues climbed 15 percent, gross profit increased by just 11 percent, from $4.3 billion in 2022 to $4.8 billion in the current year, as input cost climbed 17 percent to $8.93 billion from $7.6 billion in 2022.
Selling and distribution expenses rose 14.3 percent from $2.12 billion to $2.43 billion and administrative expenses popped nearly 13 percent from $455 million to $513 million. Finance income brought in $168 million versus $85 million in the previous year, but finance cost fell from $150 million to just $11 million, despite borrowings standing at $8.9 billion at the end of the period.
Earnings per share for the quarter rose to 41 cents from 35 cents last year and is projected to reach $1.84 for the full year and $2.40 in 2025. The stock, up 15 percent for the year to date, trades at a PE of 11.3 at the last traded price of $20.70 on the Main Market at the Jamaica Stock Exchange. The PE is slightly below the market average of 12.2.
A dividend of 23 cents per share, totalling $863 million, was paid in July, up from 22 cents per share, totalling $751 million in July 2022. In addition to the above dividends, 22 cents per share was paid in March 2023 and 20 cents in March 2022. The stock trades at 3.4 times a net book value of $6.05 at the end of September.
Cash flow generated for the 2023 quarter amounted to $2.2 billion and $1.9 billion in 2022. After working capital movements, operations delivered net flows of $2.4 billion, up from just $800 million in 2022

Wata is one of Wisynco’s known brands.

Shareholders’ Equity climbed to $22.7 billion at the end of September, up from $19 billion in September last year. Long term borrowings jumped to $2.8 billion from $790 million at the end of September last year and short term loans ended at $1.3 billion and $920 million in 2022. Some of the amounts borrowed are used explicitly to fund a significant expansion of its facilities currently on the way, so far consuming $1.8 billion in the quarter.
Net Current Assets closed the period at $13.5 billion, up from $11 billion at the end of September 2022 and emanate from Current Assets of $12 billion and $8.9 billion at the end of September last year and includes cash and investments of $10.2 billion and $7.7 billion in 2022. These amounts do not take into consideration $2.2 billion in longer term securities at the end of the quarter.
Current Liabilities ended at $7.4 billion at the end of September this year compared to $6.1 billion last year.
The group acquired the distribution rights for the Jamaican Teas products for sale locally. It will add around 2-3 percent to revenues in an entire year in addition to the expansion of the factory and warehousing currently underway and expected to come on stream by March 2024. The expansion will allow for increased production to meet demand they are unable to fill currently and provide capacity to expand exports.

Barita to pay $666M in dividend

Barita Investments will be paying an interim dividend of 54.6 cents per stock unit on June 30, 2022, the company advised.

The company’s Board of Directors approved a Resolution on June 9, 2022, for the payment to shareholders on record at the close of business on June 23, 2022, and will cost $666.3 million.  The stock will trade ex-dividend on June 22, 2022. The company last paid a dividend of $3.029 per stock unit on October 7, last year, to shareholders on record at the close of business on September 23, 2021.

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Elsewhere, Scotia Group reported financial results with a net income of $4.4 billion for the six months ending April 2022, down from $4.48 billion in 2021 for the same period.
The Directors of Scotia Group approved a dividend of 35 cents per stock unit in respect of the second quarter, payable on July 20, to stockholders on record on June 28. The dividend amounts to $1.09 billion amounting to 42 percent of the profit on 83 cents per share in the April quarter.

Big dividend payout by Caribbean Cement

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Caribbean Cement Company is set to make a sizable dividend payment in August. The Board of Directors advised that a meeting of the board that was held on May 26, 2022, recommended to present an ordinary resolution to shareholders to declare a final dividend of $1.5032 per share payable on August 15, 2022. 
The proposed payment represents 29.475 percent of the profit of $5.10 per share for 2021. The proposed record date is August 4, 2022, with an ex-dividend date of August 3rd. The recommendation will be made to shareholders at the Company’s next Annual General Meeting.
The company seems to have breached the JSE rules that require that any meeting to consider the payment of a dividend must be communicated to the JSE at least 7 days ahead of the meeting. So far no such notification was posted on the Stock Exchange website.
The payment if approved would amount to $1.28 billion and would represent the first such payout since 2004 when 7 cents per share was paid amounting to $60 million.

Q2 profit up at Carreras

Cigarettes are no longer the in-demand and sexy product of former years, nor are stocks of companies involved in the product in strong demand either.
It is against that background that the former highflier and Jamaica Stock Exchange-listed Carreras is to be viewed. But stocks of these companies are sought after by many who see great value in the high dividends paid by them, even if growth in profit is moderate. Years of increased prices on the product, mostly fueled by increased taxation, stymied demand and affected the profitability of the company. For the current year, aftertax profit climbed 11 percent for the September quarter to $911 million from $822 million but dropped 11 percent for the year to date from $1.75 billion to $1.56 billion. Taxation on profits climbed 10 percent in the quarter and the half year to $308 million from $279 million and $531 million from $591 million respectively.
Before tax charges, profit climbed 11 percent for the September quarter to $1.2 billion, up from $1.1 billion in 2019 but dropped 11 percent for the year to date from $2.34 billion to $2.1 billion.
Operating profit climbed by 12 percent for the quarter to $1.2 billion from $1.1 billion but decreased 10 percent for the half year to $2.1 billion from $2.3 billion in the same period in 2019.

Carreras leading brand

Revenue grew 8.5 percent for the quarter to $3.46 billion from $3.2 billion in 2019, with a seven percent drop for the six months to September from $6.64 billion to $6.15 billion. The revenue includes special consumption tax of $2.6 billion, two percent less than the similar period in 2019.
Cost of sales grew nine percent for the quarter from $1.61 billion to $1.76 billion and fell by six percent for the year to date from $3.3 billion to $3.1 billion. Gross profit improved by eight percent for the quarter from $1.58 billion to $1.7 billion but shrunk nine percent for the six month period from $3.3 billion to $3.1 billion. The gross profit margin for the quarter and the six months stood at 49 percent, down a single percentage point from the respective corresponding periods.
Administrative, marketing and distribution expenses fell one percent for the quarter and three percent for the first half of the fiscal year, to $490 million and $999 million, respectively.
The company is in excellent financial health having generated cash inflows from operations of $1.4 billion and after paying $1.6 billion in dividends cash and bank balances stood at $1.8 billion. Current assets ended at $3.53 billion inclusive of accounts receivables of $1.3 billion, with cash funds and inventories making the rest. Current liabilities stood at $2.05 billion. At the end of September, shareholders’ equity stood at $1.8 billion.
Earnings per share came out at 18.76 cents for the quarter and 32.18 cents for the half year. ICInsider.com forecasting 80 cents per share for the fiscal year. The stock last traded at $6.50 on the Main Market of the Jamaica Stock Exchange with a PE ratio of 8.3 times 2021 earnings.
A dividend of 17 cents per share will be paid on December 16, bringing the payments in the year to 64 cents, for a yield of 10 percent on the current price.

47% surge in Access profit

Looking at the Access Financial results to March without dissecting it would lead to a conclusion that things have slowed with earnings per share of $2.49 versus $2.19 as the comparative reported in the audited financial statements for 2107.
Those numbers disguise the full impact of the 2017 fiscal performance that is up nearly 47 percent after tax, compared to the previous twelve months period. The company that made its name lending workers supported by employers making payroll deductions for repaying the loans, made profit after tax of $678 million versus $463 million when the 15 month period is adjusted for the extra 3 months. The growth continues the strong growth of the company as loans keeps on growing year after year and being up $514 million in the last twelve months to $$2.6 billion. Access has shareholders’ equity of $1.7 billion and should exceed the $2 billion mark during the current fiscal year as profit for the current fiscal year.
IC Insider.com is forecasting profit for the year to March 2018 to exceed $1 billion with earnings per share of $4 with $6 for the 2019 fiscal year.
Dividends paid during the year to March 2017 amounted to $178,431,396 or 26 percent of profit. The stock traded at a record high of $50 on Tuesday on the Junior Market of the Jamaica Stock Exchange.

Carreras dividend yield 11.5%

Dividend hiked at Carreras

Carreras has declared an interim dividend of $2.10 per stock unit, payable on June 28, 2017, to stockholders as shown on the Register of Members as at June 9. The stock will commence trading ex-dividend on June 7. The payment will bring the dividends for the last twelve months to $7.50 per share, for a yield of 11.5 percent based on the price of $65.40, at the end of June 2016.
The company paid an interim dividend of $2.20 per stock unit to stockholders on the Register of Members at February 17, this year, an interim dividend of $1.70 per stock to stockholders on record at November 24, 2016 and a dividend of $1.50 per on August 30, 2016.
Carreras traded as high as $84 this year and is trading currently at $77.73 on the Jamaica Stock Exchange and traded at a low of $60 in the last twelve months.
For the December 2016 quarter, Carreras‘ profit after tax rose 24 percent to $1.1 billion, from $889 million and for the nine months, it moved 23 percent, from $2.28 billion to $2.79 billion. IC Insider.com is forecasting $11.50 earnings per share for the current year that ends in March 2018 as the price of cigarettes was raised this year. The increased earnings would result in an increased dividend payment.

Dividend consideration for Berger

The audited financial statements for Berger Paints Jamaica will be considered at a meeting of the company’s Board of Directors at a meeting scheduled for Friday, April 28.
The board is expected to approve the audited statements for the year ended March 31 and to consider payment of a Dividend.
In 2016 the company made net profit of $122 million compared to $67 million in 2015 and earnings per stock unit 57 cents in 2016 and 31 cents in 2015. A dividend of 20 cents per share amounting to $42.86 million and representing 35 percent of profit for the year ended March 2016 was paid on July 14, 2016 and a dividend of 12 cents per share amounting to $25.7 million or 38.35 percent of 2015 profit was paid in 2015. IC Insider.com forecast is for earnings of $1.30 per share for 2016 and $1.90 for 2018 that should result in dividend of approximately 50 cents per share for 2016 and around 70 cents for 2018.

Non-dividend stocks as investments?

The payment of dividends is only one element to consider in investing in stocks. Investing companies that do not pay dividends should not matter seriously, in the short.
This is true if companies are using the profits to grow the business.
Capital gain is the most important return investors look for in buying stocks. In the long run stocks that don’t pay dividends tend to grow faster than most, but ultimately they will make dividend payments to their shareholders, thus increasing the return on investment.
The most important factor in buying stocks is whether their values are relatively low enough to make for a profitable investment down the road. At the same time, investors should not only look at a company by itself and compare the likely growth with other stocks, with the ones showing the greatest potential being invested in.
If income is the main objective, then investors would need to look to those stocks paying the h level of dividends relative to the stock price.

Cargo Handlers’ share goodies

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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