TransJamaican Highway Limited (TJH), in a notice published on the website of the Jamaica Stock Exchange, has noted that shareholders who originally purchased shares in United States dollars (USD) are now able to receive dividend payments in USD currency, rather than in Jamaican dollars (JMD). The change came as TJH noted that they understood the importance of investors receiving their dividends in the currency that they invested in.
If investors wish for future dividends in USD, they must submit a written request to the Jamaica Central Securities Depository (JCSD) Limited, asking to be added to the “TJH Special USD Elect Listing.”
However, before clients make this election, please take note of the following:
For shareholders with NCB USD accounts, payments will be made electronically via ELINK upload. Currently, there are no bank charges associated with this transaction.
For shareholders with USD accounts at other local banks, payments will be made by USD cheque and sent to the recipient’s Bank for processing.
Shareholders may also opt to have dividends paid via Wire Transfer to their USD Bank account. For Shareholders who are requesting the wire transfer option, please note that:
This is subject to a wire transfer fee (determined by your bank). The applicable wire transfer fee will be deducted from the dividend amount.
For shareholders with USD accounts receiving dividends of less than the wire transfer fee: Payments will be made by USD cheque and sent to the recipient’s Bank for processing.
