Business notes...business notes...business notes...business notesWednesday, June 23, 2021
Wisynco Group Limited's prior in-house counsel and assistant company secretary Rachel Zacca demitted office on May 28 with Vanessa Young taking up her former roles for the company. Panjam Investments Limited rationalised changes to its board sub-committees with Christopher Barnes joining the audit committee on July 1 while T Matthew Pragnell was assigned to another sub-committee. Scotiabank Trinidad and Tobago Limited has appointed Sameer N Mohammed as its chief accountant and comproller for banking effective June 16.
Jamaica Teas Limited directors have sold 10,313,059 shares worth more than $36 million during the quarter. One director purchased five million shares on May 13 while three directors exercised their share options between May 28 to May 31 and received 18.3 million shares at an exercise price of $1.50 per share. Kingston Wharves Limited (KW) connected parties have sold 99,340 shares so far in the quarter. Jetcon Corporation Limited connected parties have purchased 2,565,643 shares during the quarter. A Salada Foods Limited senior manager purchased 201,500 shares on June 15 valued at $1.61 million. A Jamaica Stock Exchange director sold 1,264,004 shares to another director in June valued at $21.49 million. Mayberry Jamaican Equities Limited connected parties have bought 165,698 shares but sold 3.6 million shares during the quarter. Two NCB directors have sold 2,808,765 shares since the start of June. A Guardian Holding Limited director sold 25,000 shares between June 10 and 15 on the Trinidad and Tobago Stock Exchange.
Despite the decline in payout last quarter to US $750,370, Proven Investments Limited increased its dividend payout to US $1.06 million for shareholders on record as of July 1. This equates to a dividend per share of US $0.0014 while the Jamaican equivalent for those electing to be paid in JMD is $0.208711 per share. KW declared a dividend of $0.23 which totals $328.95 million for those on record as of July 21. Scotia Group Jamaica Limited declared a dividend of $0.35 ($1.09 billion) for shareholders on record as of June 29. Lasco Distributors Limited, Lasco Manufacturers Limited and Wisynco will all consider dividend payments to their shareholders within the next week.
CWJ Co-Operative Credit Union Resets Rate
Community and Workers of Jamaica (CWJ) Co-Operative Credit Union has advised that it intended to reset the rate on its 7.35 per cent variable deferred shares. The reset rate is equal to 200 basis points (two per cent) plus the average six months treasury bill yield held prior to commencement of the relevant coupon period. The average weighted average treasury bill yield in the most recent auction was 1.26767 per cent with the January auction having a yield of 0.80556 per cent. Dividends are paid to the holders of the deferred shares on the 15th of every month based on what they held on record on the 28th of the prior month.
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