Transjamaican heads for twice a year dividend?

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.

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