Proven — Page 22

JSE Market gives up much ground

May 7, 2014 by IC Insider.com

In Wednesday’s trading on the Jamaica Stock Exchange the market slipped more than it gained on Tuesday as big capitalisation stocks, Desnoes & Geddes, Sagicor Group and Cable & Wireless slipped in value with the prices of 5 stocks rising and 9 declining as 24 securities traded resulting in 8,461,785 shares changing hands valued at $29,734,524. At the close market sentiment was reflecting continued negative movements for a while.
Main Market| Only 4 companies in the main market advanced and 8 declined as the indices plummeted with the JSE Market Index dropping by 2,428.50 points to 73,614.29 and the JSE All Jamaican Composite index shedding 2,715.48 points to close at 81,022.33.
Gains| Stocks recording gains at the end of trading in the main market are Hardware & Lumber trading 64,500 shares to close with a gain of $1.30 cents at $11.80, National Commercial Bank with 7,976 units changing hands to close at $18.50and gained 40 cents, Caribbean Cement with 84,939 shares to close at $4, with an increase of 10 cents and Scotia Group only 500 shares to close at $20.55 for a 5 cents gain.
Firm| There were only 6 stocks in the main market to close without a price change as Jamaica Broilers with 22,080 shares closed at $4.85, Jamaica Money Market Brokers 8.50% preference share traded 10,000 units and closed at $3.50, Jamaica Money Market Brokers 8.75% preference share closed at $3.03 while exchanging 221,600 shares, Proven Investments 8% preference share traded 612,900 units at $5.09 followed by Seprod with 171,083 units at $10.80 and Supreme Ventures with 17,000 units to close at $2.10.
Declines| On a day when declining stocks overwhelmed advancing ones, the number of stocks that declined in the main market are Cable & Wireless with 1,903,766 shares as investors tried to get out of the stock as it the closed at 40 cents having slipped by 4 cents, Desnoes & Geddes with 697,860 shares while losing 40 cents to end at $4.10, Gleaner with 8,000 shares to close 5 cents lower at $1.10, Grace Kennedy 40,258 units in closing at $56.50 as the price slipped a cent, Pan Jamaican Investment with 97,716 shares in closing at $48.51 down by 54 cents, Radio Jamaica 24,000 units traded to close 4 cents lower at $1.28 and Sagicor Group with 576,077 shares closed at $8.90 with the fall of 13 cents.
Junior Market| The JSE Junior Market Index declined by 2.99 points to close at 750.39 as 7 stocks traded with only one advancing and 2 declining.
Gains| Lasco Financial traded 41,000 units to close at $1.30, up 10 cents, was the only stock with a gain at the end of trading in the junior market.
Firm Trades| 4 stocks in the junior market traded to close at the same price as the day before with Caribbean Flavours trading 11,121 units at $2.70, Caribbean Producers 121,513 shares to end at $3, Consolidated Bakeries 40,000 units in ending at $1.10 and Lasco Manufacturing with 1,066,000 shares to end at $1.20.
Declines| Stocks declining in the junior market at the end of trading are Dolphin Cove trading 222,681 units at $8.20 for a 3 cents fall and Lasco Distributors 2,399,215 shares at $1.30 down 5 cents.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator flashed negative sentiment showing 5 stocks with the bid higher than the last selling price and 9 stocks with offers that were lower.

Filed Under: JSE Main Market, Stock Market Tagged With: C&WJ, Caribbean Flavors, Caribbean Producers (CPJ), D&G, Daily Trading, Dolphin Cove, Gleaner, Grace Kennedy, Jamaica Broilers, JMMB, Lasco, NCB, Pan Jam, Proven, Radio Jamaica, Sagicor, Scotia, Seprod

Very moderate market movement

May 2, 2014 by IC Insider.com

There was very moderate activity on the Jamaica Stock Exchange at the close of the trading week as the prices of 10 stocks rose and 8 declined as only 25 securities traded in a very slow market session resulting in 1,571,377 shares trading valued at a mere $8,273,649.
Main Market| Six companies in the main and US dollar markets advanced and 6 declined as the indices moved down moderately with the JSE Market Index inching down by 6.80 points to 74,592.23 and the JSE All Jamaican Composite index shedding just 7.60 points to close at 82,115.83.
Gains| Stocks recording gains at the end of trading in the main market are Kingston Wharves with 9,534 shares to close with a gain of 48 cents at $5.99, National Commercial Bank gained 10 cents to close at $18.10 with 9,100 units changing hands, Proven Investments ordinary share, with 8,570 units to close up 0.02 us cents at 18 US cents, Sagicor Group 18,000 units closing at $9.80 for a 30 cents gain, Salada Foods 5,000 shares to close at $8 as the price gained 50 cents and Scotia Investments with only 700 shares to end at $23.10 for a gain of 10 cents.
Firm| There were only 4 stocks in the main market to close without a change in price as Cable & Wireless with 43,699 shares closed at 40 cents, Carreras with 5,000 units closed at $33.56, Jamaica Money Market Brokers 7.50% preference share traded 500,000 and closed at $2 and Proven Investments 8% preference share with 381,800 units closed at $5.07.
Declines| The stocks declining in the main market are Gleaner with 2,500 shares while falling a cent to close at $1.10, Grace Kennedy lost $1.49 to end at $56.51 with 1,600 shares, Jamaica Broilers exchanged 20,538 units to close down a cent at $4.85. Pan Jamaican Investment 10,529 shares to end 55 cents lower at $49.05, Scotia Group had 110,308 units at $20.50 at the close as the price shed 12 cents and Supreme Ventures 3,800 shares to close with a 5 cents decline at $2.05.
Junior Market| The JSE Junior Market Index declined by 8.14 points to close at 751.34 as 9 stocks traded with 4 advancing and only 2 declining.
Gains| Stocks recording gains at the end of trading in the junior market are AMG Packaging that traded 5,560 units to close at $3.50, up by a cent, Access Financial with 72,600 units to close at $11.50 with a gain of $1.50, Caribbean Cream 3,000 units to close at 79 cents with a 4 cents increase and Caribbean Producers with 90,000 units in closing at $3, up 2 cents.
Firm Trades| The 3 stocks in the junior market traded to close at the same price as the day before are Blue Power with 3,400 shares in closing at $9.01, Lasco Financial 3,000 shares while closing at $1.20 and Medical Disposables 94,700 units, closing at $2.04.
Declines| Stocks declining in the junior market at the end of trading are General Accident with 2,000 units a $1.60, down 10 cents and Lasco Manufacturing with 166,439 shares to end down by 10 cents at $1.10.
IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with the bid higher than the last selling price and 4 stocks with offers that were lower.

Filed Under: JSE Main Market, Stock Market Tagged With: AMG Packaging, Blue Power, C&WJ, Caribbean Producers (CPJ), Carreras, Grace Kennedy, Jamaica Broilers, JMMB, Kingston Wharves, Lasco, Medical Disposables, NCB, Pan Jam, Proven, Scotia, Supreme Ventures

Proven – growth by acquisition

April 30, 2014 by IC Insider.com

Proven Investments‘ growth by acquisition took a leap forward with the announcement that they came to an agreement with conglomerate Grace Kennedy to acquire all the shares of First Global Financial Services Limited (FGFS) from First Global Holdings Limited. The agreement was signed on April 24, 2014. This acquisition is subject to regulatory approval. Grace Kennedy stated in a release to the Jamaica Stock Exchange that the transaction is valued at $3.05 billion but excludes the seat on the exchange that the Grace group will keep.

First Global Financial Services Limited, FGFS was established in April 2004, as part of the Grace Kennedy Financial Services Division re-branding and consolidation exercise, when George & Branday Securities Ltd assumed the First Global brand name of First Global Financial Services Limited. Later, FGFS acquired the operations of FGB Securities Limited, First Global Stockbrokers Limited, Grace Kennedy Properties Limited, First Global Insurance Limited, and Grace Pension Management Limited.

The acquisition will swell the assets of Proven which stood at US$146.4 million at the end of 2013. It is expected that the two entities will be merged resulting in a cut in operating cost. FGS is said to have $22 billion in assets plus assets managed for third parties off the balance sheet amounting to $60 billion. Not all of the assets may move over as some clients could opt to shift to other entities within the financial industry. If history is anything to go by, the bulk of the assets should continue with the new owners once the deal is concluded.

Grace plans to use the proceeds to expand First Global Bank locally and the group’s financial services regionally.

Related post | FX gains & securities boost Proven

Filed Under: Company News, General Business News Tagged With: First Global, Grace Kennedy, Jamaican Stock, JSE Company, Proven

New year, new dividends

March 7, 2014 by IC Insider.com

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IC Insider’s tracking of the latest announcements on dividends for the New Year to February 28th 2014.

Sagicor Group ups dividend and approved the payment of an interim dividend of 35 per share payable on March 31, 2014 to shareholders on record as at March 21, 2014. The ex-dividend date is March 19, 2014. The company paid a dividend of 21 cents per share on October 31, 2013 and brought dividends paid in 2013 to 40 cents per share with a dividend of 19 cents per share paid on March 28, 2013. In 2012 the company paid two dividends of 28 cents each.

Jamaica Broilers Group has declared an interim dividend of 8 cents per share payable on April 9, 2014 to shareholders on record as at March 13. The ex-dividend date is March 11. The 2013 dividend represents an increase of 33.33 percent on the amount paid in 2012. The company paid an interim dividend of 6 cents per share on March 28, last year and 8 cents per share on December 2.

Pan-Jamaican Investment Trust will pay its first interim dividend for the year 2014 of 60 cents per share on March 31, 2014 to shareholders on record as at March 17, 2014. The ex-dividend date is March 13, 2014. Dividends per share paid in 2013 amounts to 45 cents on September 20, $1.10 in March and 50 cents on December 20.

Scotia Investments approved an interim dividend of 45 cents per stock unit, payable on April 10, 2014, to stockholders on record as at March 20, 2014. The company pays four dividends per annum and have paid 45 cents each for the prior four quarters

Scotia Group approved an interim dividend of 4o cents per stock unit, payable on April 10, 2014, to stockholders on record as at March 20, 2014. The company pays four dividends per annum and have paid 40 cents each for the prior four quarters.

Supreme Ventures declared a dividend of 3 cents per share payable on March 26, 2014 to shareholders on record as at March 12, 2014. The stock traded ex-dividend on March 10, 2014. The company paid a dividend of 3 cents per share on January 8, 2014. In 2013 dividends per share were paid as follows – 3 cents on September 2, 8 cents on June 17 and 10 cents on March 28.

Eppley Limited declared an ordinary interim dividend of $9 per share payable on February 28, 2014 to shareholders on record as at February 21, 2014. The ex-dividend date is February 19, 2014. This is the first dividend the company is paying on its ordinary shares since listing in 2013.

General Accident Insurance approved an ordinary dividend of 7.64 cents per stock unit payable on April 1, 2014, to shareholders on record as at March 6, 2014. The stock traded ex-dividend on March 3, 2014. General Accident Insurance paid an interim dividend of 8.728 cents per share on October 14, 2013 and also paid an interim dividend of 4.85 cents per share on March 28, 2013. In 2012 they made two payments of 4.85 cents each.

Dolphin ups dividend up 50% | Dolphin Cove has declared an interim dividend of $0.15 per share payable on April 9, 2014 to shareholders on record as at March 21, 2014. The ex-dividend date is March 19, 2014. Interim dividends were paid as follows by the company, 10 cents per share on December 4, 2013, 10 cents per share on September 16, 2013, 10 cents per share on June 6, 2013 and 10 in March 28 last year.

Gleaner Company declared an interim dividend of $0.04 per share payable on March 13, 2014 to shareholders on record as at February 27, 2013. The ex-dividend date is February 25, 2014.

PROVEN declared a dividend of US$0.0015 per ordinary share payable on March 13, 2014 to shareholders on record as at February 26, 2014. The ex-dividend date is February 24, 2014.

Carreras declared an interim dividend of $1.62 per share payable on March 13, 2014 to shareholders on record as at February 20, 2014. The ex-dividend date is February 18, 2014. This is the fourth regular dividend being paid for the year. An interim dividend of $1.30 per share and a special dividend of $0.94 per share were paid on June 20, 2013. Interim dividends of a dollar per share each were paid in August and November last year. A special capital cash distribution of $1.18 was also paid on January 30, 2014.

Cargo Handlers declared a dividend of 50 cents per share payable on March 6, 2014 to shareholders on record at February 18, 2014. The ex-dividend date is February 14, 2014. In 2013 ahead of the change in the tax rate on dividends from 5 percent to 15 percent the company paid a dividend of $1.00 per share on March 28, 2013.

AMG Packaging declared a dividend payment of 20 cents payable on March 28, 2014 to shareholders on record as at February 17, the Ex-dividend date is February 13. At the current stock price of $3.48 the yield is 5.7 percent. This is the first dividend the company has paid since listing in 2011.

The Board of Directors of Kingston Properties Limited has declared its first dividend for the year 2014 in the amount of US$0.0025 per stock unit payable on February 28, 2014 to stockholders on record as at February 10, 2014. The ex-dividend date is February 6, 2014.

Caribbean Producers (Jamaica) Limited | declared an interim dividend of 3 cents per stock unit payable on January 31, 2014 to shareholders on record as at January 16, 2014. The ex-dividend date is January 14, 2014. An interim dividend of 4.5 cents per stock unit was paid on March 28, 2013, previously an interim dividend of five cents per share paid on June 20, 2012.

Barita cuts dividend to 3 cents | Stung with a big drop in reported profits from $255 million in 2012 to only $70 million for the year ended September 2013, Barita Investments’ board approved the payment for an interim dividend of 3 cents per stock unit to be paid on January 27, 2014 to shareholders on record as at January 10, 2014. The ex-dividend date is January 8, 2014. In January 2013 a dividend of 11.4 cents per share was paid.

Dividends delayed | Sagicor Group has moved the dividend consideration from February 28 to March 6th.

Not announced | The Board of Caribbean Flavours and Fragrances who had indicated that they will consider a dividend declaration at a meeting to be held on February 5, 2014 has not yet reported the decision to the Jamaica Stock exchange nor has Jamaica Broilers who should have met on February 26.

The Board of Directors of Grace Kennedy will consider a resolution for the declaration of an interim dividend at a meeting to be held on Friday, February 28, 2014. Grace last paid an interim dividend of $0.70 per share paid on December 11, 2013, an interim dividend of $0.78 per share paid on September 30, 2013 and an interim dividend of 70 cents per stock unit was paid on March 27, 2013.

Filed Under: Company News, Dividends Tagged With: AMG Packaging, Barita Investments, Cargo Handlers, Caribbean Flavors, Caribbean Producers (CPJ), Carreras, Dividends, Dolphin Cove, Eppley, General Accident, Gleaner, Grace Kennedy, Jamaica Broilers, JSE Company, kp, KPREIT, NCB, Pan Jam, Proven, Sagicor, Scotia, Supreme Ventures

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

Dividends to come

August 23, 2013 by IC Insider.com

Jamaica Public Service Company declared quarterly preference share dividends payable on October 1, 2013 to shareholders on record as at September 13, 2013 with the ex-dividend date is September 11, 2013, as follows:

7% Cumulative Preference Shares “B” – $0.035 per share
5% Cumulative Preference Shares “C” – $0.025 per share
5% Cumulative Preference Shares “D” – $0.025 per share
6% Cumulative Preference Shares “E” – $0.03 per share

Dolphin Cove declared an interim dividend of 10 cents per share payable on September 16, 2013 to shareholders on record as at August 29, 2013. The ex-dividend date is August 27, 2013. The company previously paid a dividend of 10 cents per share on June 6, 2013 to shareholders on record as at May 20, 2013 as well as one in March this year.

Guardian Holdings declared a dividend of TT$0.15 payable on September 5, 2013 to shareholders on record as at August 22, 2013. The ex-dividend date is August 20, 2013.

Proven Investments declared a preference share dividend of $0.10 per share payable on September 23, 2013 to shareholders on record as at September 9, 2013. The ex-dividend date is September 5, 2013.

Proven Investments declared a dividend of US$0.0021 per ordinary share payable on September 10, 2013 to shareholders on record as at August 27, 2013. The ex-dividend date is August 23, 2013.

Filed Under: Company News, Dividends Tagged With: Dividends, Guardian Holdings, Proven

FX gains & securities boost Proven

June 4, 2013 by IC Insider.com

Increased gains from foreign exchange and securities trading helped Proven Investments to report higher profits than in 2012 in its latest release of its audited financial statements to March this year. The investment bank reported 26 percent higher profits than in the previous year.

While interest income grew from US$7.076 million to $7.36 million, net interest income fell to US$2.89 million from US$3.1 in 2012. However, dividend income grew from $900,000 in 2012 to US$1.26 million in the latest year. Net fair value adjustments and realised gains accounted for US$4.51 million versus US$3.31 million in 2012. But foreign exchange trades delivered US$1.57 million, a turnaround from a loss of US$417,000 in 2012.

Bad debt of US$637 million helped to move up other operating expenses from US$1.9 million to US$2.8 million. The earnings work out at US$0.0141 per share versus US$0.0112 in 2012. The stock closed up slightly at US$0.115 at the end of Monday’s trading before these results were released. There seems to be room for further gains in the stock price with the PE ratio of the stock being 7.7 times the latest earnings. Management will have to pull out all the stops and be creative to drive earnings in the immediate future to continue to make the stock attractive to a wide array of investors.

The company reported assets of US$144 million up from $140 million in 2012. Equity capital stood at US$35.8 million at the end of March 2013. The company is reporting that exchange movement reduced the value of the preference shares during the year from US$11.24 million down US$9.922 million.

Going forward, much will depend on the ability of management to extract more gains from foreign currency trade as well as how well they do in investing in other forms of securities. In this regard investors, who may be interested in the stock, would need to focus on the management’s track record as there is less predictability in the potential earnings in trading securities and currencies.

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

Proven, FCIB declare dividends

June 3, 2013 by IC Insider.com

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.

First 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, First Caribbean, Proven

Dividends coming

May 27, 2013 by IC Insider.com

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.