Dolphin Cove — Page 186

Dividends galore coming

December 19, 2013 by IC Insider.com

It should be a Merry Christmas for investors in the companies listed on the Jamaica Stock Exchange as several companies have either announced dividend payments or have announced plans to make one.

Sagicor Investments Jamaica Limited declared an interim dividend in the amount of 91 cents per stock unit payable on January 28, 2014 to stockholders on record as at January 7, the ex-dividend date of January 3. The company paid an interim dividend of 12 cents per stock unit on October 31, 2013 and 48 cents per stock unit on March 27, 2013. In 2012, Sagicor paid a dividend of 57 cents per stock unit on October 29, 2012 to stockholders and 74.3 cents per stock unit on April 27, 2012.

Jamaica Producers Group Limited has declared an interim dividend of $0.20 per share payable on January 28, 2014 to shareholders on record as at December 31. The ex-dividend date is December 27.

Supreme Ventures Limited has declared a dividend of $0.03 per share payable on January 8, 2014 to shareholders on record as at December 20. The ex-dividend date is December 18.

Jamaica Public Service Company Limited has declared quarterly preference share dividends payable on December 31, 2013 to shareholders on record as at December 13, as follows:

JPS 5% “C” – $0.025 per share, JPS 5% “D” – $0.025 per share, JPS 6% “E” – $0.030 per share
JPS 7% “B” – $0.035 per share. The ex-dividend date is December 11, 2013.

FirstCaribbean International Bank Limited declared a final dividend for the year ended October 31, 2013 of US$0.015 per share payable on January 30, 2014 to shareholders on record as at December 19. The ex-dividend date is December 17.

Kingston Wharves has declared an interim dividend of 8 cents per share payable on December 20, 2013 to shareholders on record as at December 13. The ex-dividend date is December 11. This brings the payment for 2013 to 16 cents per share compared with 12 cents in 2012. The company paid a final dividend of 2 cents per share in respect of the financial year ended December 2012 and an interim dividend of 8 cents per share in respect of the current year, on Thursday, March 28. On December 21st last year, a dividend of 10 cents per share was paid.

Hardware & Lumber declared an interim dividend for the year 2013 of 30 cents per stock unit payable on January 17, 2014 to stockholders on record as at December 20. The ex-dividend date is December 18, 2013. The company last paid a dividend of 12.5 cents per stock unit on January 31, 2013.

The Board of Directors of Scotia Group Jamaica announced a final dividend of 40 cents per stock unit payable on January 13, 2014, to stockholders on record at December 18, 2013. Scotia Investments also declared a final dividend of 45 cents payable on January 13 next year. Both companies have been paying 40 and 45 cents per share from the last quarter of 2012.

Salada Foods Jamaica declared a dividend of 40 cents per share payable on December 19, 2013 to shareholders on record as at December 3. The ex-dividend date is November 29, 2013. The company last paid a dividend of 40 cents per share on January 8, 2013.

Paramount Trading declared an interim dividend of 13.5 cents per share payable on December 10, 2013 to shareholders on record as at November 29. The ex-dividend date is November.

Lasco Distributors is to pay an interim dividend of 2.3 cents per share payable on December 10, 2013 to shareholders on record at November. The ex-dividend date is November 22. The last dividend paid was of $0.25 per share payable on July 31, 2012 based on the number of shares in existence then in June this year the company split the stock into 10 shares for each one already issued..

Jamaica Money Market Brokers declared a 16 cents per share dividend payable on December 18, 2013 to shareholders on record on November 27. The ex-dividend date is November 25. This is a 23% increase over the prior period. The last dividend paid was 10 cents per share on March 28, 2013. Last year December a dividend of 13 cents per ordinary share was paid.

Pan-Jamaican Investment Trust declared a third interim dividend of 50 cents per share payable on December 20, 2013 to shareholders on record as at November 27. The ex-dividend date is November 25. PJAM paid 45 cents on September 20, $1.10 on March 25, and 55 cents on December 20 last year.

Carreras declared an interim dividend of $1.00 per share payable on December 11, 2013 to shareholders on record as at November 20, 2013. The ex-dividend date is November18, 2013. The company last paid a dividend of a similar amount in August. The amounts represent a cut from $1.50 that investors had become accustomed to. A slide in profits from a drop in sales have resulted in the cut.

Grace Kennedy declared an interim dividend of $0.70 per share payable on December 11, 2013 to shareholders on record as at November 22, 2013. The ex-dividend date is November 20, 2013.

Proven Investments declared a dividend of US$0.0022 per ordinary share payable on December 3, 2013 to shareholders on record at November 19, 2013. The ex-dividend date is November 15, 2013. The also declared a preference share dividend of $0.10 per share payable on December 23, 2013 to shareholders on record as at December 9, 2013. The ex-dividend date is December 5, 2013.

Dolphin Cove declared an interim dividend of $0.10 per share payable on December 4, 2013 to shareholders on record as at November 15, 2013. The ex-dividend date is November 13, 2013.

Dividends for consideration | The Board of Directors of Barita Investments Limited will consider (and if thought fit), recommend the payment of an interim dividend for the financial year ended September 30, 2013 at a meeting to be held on Friday, December 20, 2013.

The Board of Directors of Caribbean Producers Jamaica Limited will consider a dividend payment at a meeting to be held on Monday, December 23, 2013.

AMG Packaging & Paper Company will consider the payment of an interim dividend at a meeting scheduled for Tuesday, January 7, 2014.

Filed Under: Company News, Dividends Tagged With: AMG Packaging, Barita Investments, Caribbean Producers (CPJ), Carreras, Dividends, Dolphin Cove, First Caribbean, Grace Kennedy, H&L, Jamaica Producers, JPS, JSE Company, Kingston Properties, Kingston Wharves, Lasco, Pan Jam, Paramount Trading, Proven, Sagicor, Salada, Scotia, Supreme Ventures

Dolphin Cove considers dividend

October 16, 2013 by IC Insider.com

The Board of Directors of Dolphin Cove will consider a dividend payment at a meeting to be held on October 28, 2013.

Dolphin Cove paid an interim dividend of 10 cents per share on September 16, 2013. The company previously paid a dividend of 10 cents per share on June 6, 2013, as well as one in March this year.

Related posts | Dolphin continues to grow | Growth slows for Dolphin

Image courtesy of Bill Longshaw/FreeDigitalPhotos.net

Filed Under: Company News, Dividends Tagged With: Dividends, Dolphin Cove, JSE Company

Dolphin continues to grow

August 30, 2013 by IC Insider.com

Dolphin Cove reported improved profit for the six months to June of $221 million compared to $195 million in 2012, an increase of 13 percent and for the three months to June, $103 million versus $84 million, a 22.6 percent gain. Total revenue for the six months to June was $787 million versus $706 million in June 2012, an 11 percent increase and $393 million for the June quarter compared to the previous year’s $344 million for a 14 percent change.

Gross profit rose 11 percent year to date to $696 million and was up 13 percent in the recent quarter. Administrative cost rose faster than revenues 20.6 percent for the six months but 25 percent in the June quarter. Interest cost declined from $11 million in the six months last year to just $1 million for 2013.

Both revenues and profits would have been negatively affected by the slowdown in visitor arrivals this year and would have slowed growth somewhat.

The consolidated financial position of the Group is strong, showing a healthy net current assets over current liabilities of $252 million position with cash funds and investments of $205 million, but the position is boosted by increased borrowing for capital spend for fixed assets and new dolphins with $174 million spent on animals in the last twelve months in preparation for expansion. This is in keeping with the company’s plan to open and operate additional parks in other Caribbean countries where they acquired real estate and additional dolphins for the attractions.

Notwithstanding the investment in fixed assets, the company paid dividends (20 cents per share) during the six month period.

The stock is priced at $9 each and carries a PE of more than 10 times this year’s estimated earnings, which should be around 80 cents per share. Based on the value, the stock would be Hold Rated.

Related posts | Growth slows for Dolphin | Dividends to come

Image courtesy of Bill Longshaw/FreeDigitalPhotos.net

Filed Under: Company News, Company Results Tagged With: Dolphin Cove, JSE Company

Growth slows for Dolphin

May 16, 2013 by IC Insider.com

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Dolphin Cove seems to have reached a stage of relative maturity in the Jamaican Market as evidenced by a moderate revenues increase of 9 percent in the March quarter this year compared to the prior year. Management indicates that the level of increase experienced is due largely to their marketing and selling efforts.

This increase in revenue primarily contributed to a 7 percent increase in net profits when compared to Q1 of 2012. In the quarter, profits of $117.5 million was made while the 2012 figure was $110 million. The company delivered total revenues of $395 million in the quarter and in 2012 $363 million.

Expenses increased at a higher rate than the increase in revenues, particularly at the Hanover Park due to the allocation of more of the central administrative and marketing costs to that operation than in the prior period. Overall, team member costs increased by 10 percent as of May 2012 which affected Q1 2013 and not Q1 in 2012. The other parks recorded an increase in profits of 67 percent as the Half Moon Hotel’s new management has delivered better attendance, the company stated in a release with the results.

Management expects that the reopening of several hotels which have been closed for renovation or expansion and the change of hotel brands such as Breezes Runaway Bay and Hedonism 3 to Jewel and also Ritz Carlton to Playa, (operators of the Secrets and Barcelo brands) should have a very positive effect on park attendance . The planned reopening of the Starfish Hotel in Trelawny and the expansion of RIU in Montego Bay to open later this year should give a further boost.

Financial Finances are in a very healthy state even after funding expansion from internal sources. Cash funds held at $150 million, current assets exceed current liabilities 2 to 1, which means they are in a great position to fund short commitments. Equity is $1.2 billion and debt capital is around $120 million.

Expansion overseas | The company has acquired land overseas for another park, which is where most of the future growth will come from.

The stock is currently priced in the $8 region, a bit pricey based on other stocks in the market but time will allow the valuation of others to catch up with Dolphin.

Filed Under: Company News, Company Results Tagged With: Dolphin Cove, JSE Company

Dividends to come

May 10, 2013 by IC Insider.com

The Board of Directors of Desnoes & Geddes (D&G) has advised that they will meet on Thursday, May 16, 2013 to consider the payment of a second interim dividend for the year 2013. On the same date the Board of Directors of Pan-Jamaican Investment Trust will meet to consider the payment of a second interim dividend for the year.

If the dividend is approved, Desnoes & Geddes would be returning to the regular practice of paying two dividends per year, which was suspended when the operations was faced with challenges after the global economic crisis took full effect in Jamaica. The company paid 20 cents per share in December.

Pan Jamaican already made a payment of $1.10 cents in March and if the Board approves, it would be the second of four for the year and likely to be $0.50.

The Board of Directors of Dolphin Cove has declared a dividend of $0.10 per share payable on June 6, 2013 to shareholders on record as at May 20, 2013. The ex-dividend date is May 16, 2013. This payment is likely to be the second of three for the year having paid one in March already.