Jamaican Teas Limited will be holding a Board meeting during the week of November 8-12, 2010 at which time the Board of Directors will be considering the company`s first dividend payment.
Jamaica Money Market Brokers Limited (JMMB) will be making its monthly dividend payments of $0.03 per share and $0.0301146 per share on JMMB12% preference shares and JMMB12.25% preference shares, respectively, and a quarterly dividend payment of $0.0354375 per share on JMMB12.15% preference shares, on November 12, 2010. The record date for the dividend payments is October 29, 2010 and X-date is October 27, 2010.
The record date for the dividend payable on November 9, 2010, has been amended to November 1, 2010. Consequently the new ex-dividend date is October 28, 2010.
The Board of Directors of Seprod Limited has declared a dividend of $0.25 payable on November 9, 2010 to shareholders on record as at October 27, 2010. The ex dividend date is October 25, 2010.
Carreras Limited has announced that Mr. Michael G. Bernard, Managing Director of the company since 2005, will be retiring from his executive position effective December 31, 2010. The company will retain Mr. Bernard`s extensive knowledge and expertise in the tobacco industry as he will remain a Director of Carreras Limited in a non-executive capacity.
Having attained early retirement status and achieved a very successful and mutually rewarding career with the company, Mr. Bernard is about to pursue his philanthropic and other personal interests. He will be replaced by Mr. Richard Pandohie, an employee of Carreras, who has been on secondment to British American Tobacco Caribbean and Central America for the past three years. Mr. Pandohie formerly served Carreras at the Jamaica Biscuit Company as Operations Manager and served as Managing Director/General Manager/Country Manager for local and international companies prior to returning to Carreras.
Caribbean Cement Company Limited has announced that it will be discounting the price of its 42.5kg sacks by approximately 7 1/2%. A bag of Carib Plus will now be sold at $525. The company noted that the demand for cement over the past few years has been decreasing. Specifically, the demand for 2010 to date is approximately 18% less than the same period last year. Overall, cement demand has been reduced by an estimated 36% since the recession began.
This reduction in the local sales volumes has come just after the company invested US$177 Million in the modernization and upgrade of its plant and equipment. This capacity upgrade, albeit necessary, has put exceptional pressure on the company`s ability to meet its financial commitments and the current local sales volumes achieved by the company are just not sufficient to cover its operational expenses. Through an aggressive export thrust, the company has exported 30% of its production this year, however, the revenue generated from export markets are not enough to compensate for the loss in domestic revenues.
The Board of Lascelles, deMercado & Co. Limited has advised that Ms. Alison Lewis resigned from the Board of Directors effective immediately.
Jamaica Money Market Brokers Limited (JMMB) will be making its monthly dividend payments of $0.03 per share and $0.0301146 per share on JMMB12% preference shares and JMMB12.25% preference shares, respectively, on October 14, 2010. The record date for the dividend payments is September 30, 2010 and X-date is September 28, 2010.
Jamaica Money Market Brokers Limited (JMMB) has advised that two classes of its preference shares, Cumulative Redeemable 12% Preference Shares and Cumulative Redeemable 12.25% Preference Shares, will become due on December 14, 2010 and will be paid out in full at that time. JMMB intends to have a new preference share issue in January 2011 to satisfy client demands for low-risk investment opportunities with regular cash flows as well as deepen the institution`s capital base, continuing the Company`s growth trajectory.