Sagicor announces dividend payment to all shareholdersFriday, April 16, 2021
Sagicor Group Jamaica has declared a final dividend of 61.24 cents per stock unit payable on May 14, 2021 to shareholders on record at close of business on April 26, 2021.
The company has also signalled its intent to pay out all previously announced dividends that remain unpaid as a result of Bank of Jamaica's (BOJ) order to local financial holding companies and deposit-taking institutions to suspend the distribution of dividends for the 2020 financial year to conserve capital amid the economic downturn caused by the novel coronavirus pandemic.
On Monday, BOJ authorised the resumption of the distributions of dividends to shareholders owning more than one per cent of issued shares that had been declared for their 2019 and 2020 financial years.
The central bank also gave clearance for companies to resume the declaration and distribution of dividends for the 2021 financial year.
“We are pleased that the Bank of Jamaica has given the green light for all listed companies to resume dividend distribution,” said Peter Melhado, chairman of Sagicor Group Jamaica. “Our funding and liquidity position will comfortably allow us to support the payout of previously declared dividends that remain unpaid, as well as this most recent dividend.”
In April 2020, Sagicor indicated the postponement of payment of declared dividends due to BOJ's orders, and in May 2020 announced that it would pay declared dividends to shareholders with shareholdings of one per cent or less.
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