NCB cuts dividend in half

July 26, 2013 by

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.

dividends2_280x150NCB 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.

Related posts | NCB recovers from NDX hit |  NDX slaps NCB profits |  Berger holds dividend, NCB cuts

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

Blue Power dividend

July 1, 2013 by

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: , ,

All 3 Lasco companies approve splits

June 27, 2013 by

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: , , ,

Big payoff for Access owners

June 27, 2013 by

Access Financial Services declared an interim dividend of 31 cents per share payable on August 15, 2013 to shareholders on record as at August 9, 2013.  The ex-dividend date is August 7, 2013.

This is the first time the company is paying two dividends in one year. The last dividend paid was an interim dividend of $0.65 per share payable on February 27, 2013 to shareholders on record as at February 21, 2013 and related to 2012 profit.

The latest dividend announced will, when paid, bring the dividend payment to 96 cents for the year and will give shareholders a yield of 15.23 percent based on the stock price at the start of the year of $6.30. The Chairman has confirmed that “Access is likely to pay more than one dividend payment for the fiscal year going forward.”

The stock last traded at $8.15, a gain of 29 percent so far. IC Insider is projecting that the stock will rise much further as profit for this year could rise to well over $1 per share.

Filed Under: Company News, Company Results Tagged With: ,

Dividends & Insider Trades

June 10, 2013 by

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: , , ,

Proven, FCIB declare dividends

June 3, 2013 by

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.

US$&Coins280x150First 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 coming

May 27, 2013 by

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.

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

Carreras gives 15.3% return

May 23, 2013 by

Carreras Limited has declared an interim dividend of $1.30 per share and a special dividend of $0.94 per share payable on June 20, 2013 to shareholders on record as at June 6, 2013. The ex-dividend date is June 4, 2013.

This latest dividend brings the total paid since June last year to $7.64. Shareholders who bought shares around the $50 level when Lascelles sold a block of the Carreras shares last year, have enjoyed a 15.3 percent dividend income return. The stock closed today at $60, making a total gain of 35 percent within a year.

Carreras paid an interim dividend of $1.40 per share and a special dividend of $1.20 per share on March 13, 2013, an interim dividend of $1.30 per share was paid on December 11, 2012 and another of $1.50 per share was paid on August 23, last year.

Filed Under: Company News, Company Results Tagged With: , ,

Seprod’s dividend consideration

May 22, 2013 by

The Board of Directors of Seprod Limited will meet to consider the payment of a dividend at a meeting scheduled for June 3, 2013. The company last paid a dividend amounting to $0.30 per share on November 9, 2012. Prior to the November payment the company paid a dividend of $0.53 per share on August 7, 2012.

Seprod recently 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.

For the last IC Insider report ‘What’s really up at Seprod‘, Click here

Filed Under: Company News, Dividends Tagged With: ,

D&G will pay 10¢ dividend

May 17, 2013 by

Desnoes & Geddes (D&G) will be paying the second interim dividend relating to this fiscal year which ends in June of $0.10 per share payable on June 25, 2013 to shareholders on record as at June 7, 2013. The ex-dividend date is June 5, 2013.

D&G just reported a rise in profits to 37 cents per shares for the 9 months to March after taking a hit for staff separation of $152 million in the March quarter. The proposed payment brings the total dividend for the year to 30 cents. Demand for the shares has increased since the announcement was made of a likely second dividend and the release of the quarterly results. The stocks traded as high as $5 from around $4.15 that it has been trading at for months.

Both Scotia Group and Scotia Investments are expected to announce dividends on the 24th of May. Based on past practices, the former should be paying 40 cents per share and the latter 45 cents per share. The payments will most likely take place at the early part of June.

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