TransJamaican Highway Board of Directors approved an interim dividend payment of 9.43 cents per share that will be paid on April 24, 2024, to shareholders on record as at the close of business on April 3, 2024, with the ex-dividend date is April 2, 2024.
This is the first time since the listing of the shares in 2020, that an interim dividend is paid so early in the year, suggesting that the company is moving to a twice a year pay out. The dividend is just over half of the 18.66 cents that was paid in September last year, as the only payment in 2023. Combined the two dividends resulted in a yield of just over 20 percent based on the stock price of $1.36 in March last year. In addition, the stock price jumped 148 percent over the twelve months.
In discussion with a senior officer of the company, ICInsider.com could not get confirmation if the payment to come is an official move by the company to make dividend payments twice per year, but the recent move sends a clear message of twice a year payment.
What ICInsider.com gleaned is that they are still in discussion with the government to establish the terms of agreement for the Mandeville leg of the highway.
Transjamaican heads for twice a year dividend?
Falling prices outpace rising ones on Trinidad Exchange
Trading ended on the Trinidad and Tobago Stock Exchange on Tuesday, with the volume of stocks traded declining 36 percent valued 282 percent more than on Monday resulting in 16 securities trading compared with 20 on Monday, ending with prices of two stocks rising, five declining and nine remaining unchanged.
The market closed with an exchange of 296,301 shares for $7,132,127 versus 464,708 stock units at $1,869,078 on Monday.
An average of 18,519 shares were traded at $445,758 compared with 23,235 units at $93,454 on Monday, with trading month to date averaging 17,865 shares at $230,034 compared with 17,818 units at $214,555 on the previous day and February with an average of 21,839 shares at $159,828.
The Composite Index popped 2.08 points to wrap up trading at 1,192.31, the All T&T Index popped 4.03 points to end at 1,782.04, the SME Index remained at 77.95 and the Cross-Listed Index ended unchanged at 78.56.
The Investor’s Choice bid-offer indicator shows six stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Agostini’s remained at $68.50 in an exchange of 3,378 units, Angostura Holdings popped 7 cents to $20.07 after 11,949 stocks passed through the market, Ansa McAl gained $4.50 in closing at $57 with a transfer of 38,005 shares. Calypso Macro Investment Fund ended at $22.75 and closed trading with an exchange of 220 stock units, First Citizens Group remained at $49 with 479 shares crossing the market, FirstCaribbean International Bank ended at $7.05 as investors exchanged 7,007 stock units. Guardian Holdings ended at $17.25, with 92 units crossing the market, Massy Holdings dipped 6 cents in closing at $4.33 with an exchange of 166,001 stocks, National Enterprises remained at $3.90 with trading in 1,000 shares. National Flour Mills ended at $2 with 9,304 units clearing the market, NCB Financial remained at $3.20 in trading 10,000 stocks, Republic Financial fell 72 cents and ended at $118.28, with 9,029 stock units changing hands. Scotiabank remained at $73 with investors swapping 36,938 shares, Trinidad & Tobago NGL skidded 10 cents to end at a 52 weeks’ low of $8.90 in swapping 857 stocks, Unilever Caribbean sank 7 cents in closing at $11.10 while exchanging 1,042 stocks and West Indian Tobacco declined 4 cents to $9.31 with traders dealing in 1,000 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Sharp jump in trading funds in JSE USD Market
Investors traded more securities on the Jamaica Stock Exchange US dollar market on Monday than on Friday, but the volume of stocks exchanged declined by 34 percent after 136 percent more US dollars passed through the market than on Friday, resulting in trading in 11 securities, up from nine on Friday with prices of two rising, three declining and six ending unchanged.
The market closed with an exchange of 172,660 shares for US$45,981 compared to 262,328 units at US$19,513 on Friday.
Trading averaged 15,696 units at US$4,180 versus 29,148 shares at US$2,168 on Friday, with a month to date average of 67,444 shares at US$4,681 compared with 74,934 units at US$4,754 on the previous trading day and February that ended with an average of 46,765 units for US$6,084.
The US Denominated Equities Index lost 0.78 points to close at 248.41.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.7. The PE ratio is computed based on the last traded price divided by projected earnings done by ICInsider.com for companies with their financial year ending and or around August 2024.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, AS Bryden rose 0.15 of a cent to 22.15 US cents after a transfer of 1,800 units, First Rock Real Estate USD share remained at 4.5 US cents after trading 2,000 stocks, Margaritaville ended at 10 US cents after an exchange of 100 shares. Productive Business Solutions dipped 3 cents and ended at US$1.70 with 100 stock units clearing the market, Proven Investments remained at 15.1 US cents after an exchange of 54,910 shares, Sterling Investments ended at 1.7 US cents with investors transferring 32,650 stocks. Sygnus Credit Investments remained at 8.99 US cents after 4,630 units crossed the exchange, Sygnus Real Estate Finance USD share ended at 10.49 US cents with a transfer of 8,553 stock units and Transjamaican Highway fell 0.01 of a cent in closing at 2.18 US cents as investors exchanged 42,737 shares.
In the preference segment, JMMB Group US8.5% preference share declined 3.9 cents and ended at US$1.16, with 24,699 units crossing the market and Sygnus Credit Investments E 8.5% rallied 40 cents to US$10.80 in an exchange of 481 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Falling stocks push down Trinidad Exchange
Falling stocks dominated trading on the Trinidad and Tobago Stock Exchange on Monday, with trading 20 in securities compared with 17 on Friday and ending with prices of four stocks rising, eight declining and eight remaining unchanged following an 8 percent rise in the volume of stocks traded valued 54 percent less than on Friday.
The market closed trading of 464,708 shares for $1,869,078 compared to 430,514 stock units at $4,022,409 on Friday.
An average of 23,235 shares were traded at $93,454 compared with 25,324 units at $236,612 on Friday, with trading month to date averaging 17,818 shares at $214,555 compared with 17,284 units at $226,484 on the previous trading day and an average for February of 21,839 shares at $159,828.
The Composite Index declined 5.32 points to settle at 1,190.23, the All T&T Index dipped 8.78 points to conclude trading at 1,778.01, the SME Index remained unchanged at 77.95 and the Cross-Listed Index dipped 0.23 points to finish at 78.56.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Agostini’s popped 50 cents to $68.50 with an exchange of 22 shares, Ansa Merchant Bank fell $2.25 and ended at $43.25 with an exchange of 90 units, Calypso Macro Investment Fund ended at $22.75, with four shares changing hands. First Citizens Group shed 50 cents to close at $49 with investors trading 2,755 stocks, FirstCaribbean International Bank ended at $7.05 with an exchange of 32,055 shares, GraceKennedy shed 5 cents to $3.90 with investors swapping 831 units. Guardian Holdings ended at $17.25 in switching ownership of 83 units, JMMB Group closed at $1.51 as investors exchanged 110,223 stocks, Massy Holdings slipped 1 cent to close at $4.39 after 16,262 units passed through the market. National Enterprises climbed 8 cents and ended at $3.90 with investors transferring 5,029 shares, National Flour Mills ended at $2, with 2,000 stock units crossing the market, NCB Financial dipped 1 cent to close at $3.20 with traders dealing in 288,855 stocks.
One Caribbean Media lost 15 cents to end at $3.70 after an exchange of 108 units, Point Lisas increased 28 cents in closing at $3.99 in trading 504 shares, Prestige Holdings remained at $11.20 after exchanging 887 stock units. Republic Financial skidded $1 to $119 with investors dealing in 2,241 stocks, Scotiabank dropped 50 cents and ended at $73, with 95 units clearing the market, Trinidad & Tobago NGL ended at $9 after trading 99 shares. Unilever Caribbean advanced 2 cents in closing at $11.17 with 1,520 stock units crossing the market and West Indian Tobacco ended at $9.35 after a transfer of 1,045 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Negative inflation in February
Point-to-point inflation in Jamaica has bent back close to the Bank of Jamaica’s target of 4-6 percent based on the February 2024 data released by the Statistical Institute of Jamaica, with a reading of 6.2 percent following monthly inflation plunging by 0.6 percent for the month and follows a fall of 0.10 percent in January.
The decline was influenced by the decreases in the index for the divisions ‘Food and Non Alcoholic Beverages’ (1.1 percent) and ‘Housing, Water, Electricity, Gas and Other Fuels’ (1.6 percent).