A more diversified Pan Jamaica Group Limited grew its earnings by one-fifth in the June quarter, due to its absorption of the food and logistics operations of Jamaica Producers Group. Shareholder profit rose to $1.08 billion in the quarter, or 80.
Sagicor Group Jamaica Limited has offloaded its remaining 20.75 per cent stake in Sagicor Real Estate X Fund Limited as it charts a new path in a rising interest rate environment.
The disclosure.
SAGICOR Group Jamaica Limited (SJ) achieved its highest first-quarter (January - March) earnings to date as its net profit attributable to shareholders grew by 31 per cent to $3.82 billion, a figu.
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Jamaica Producers Group Managing Director Jeffrey Hall. Food and logistics conglomerate Jamaica Producers Group, JP, will pay out $224 million in dividends to shareholders in mid-January, its largest since 2015.
The distribution at 20 cents per share represents a yield of under 1.0 per cent on the stock price, which closed at $21.36 on Wednesday. The JP stock is trading off its January high of $28.50 but is doing better than when the pandemic was detected in March. The stock then fell to $15.
Sagicor Pooled Equity Fund, the single largest shareholder in JP, will receive around 10 per cent of the distribution, or $22.44 million.
“JP is continuing to pay dividends in line with the performance and the availability of cash to fund ongoing investments. The improved dividends are in line with the results of these variables,” said Managing Director Jeffrey Hall.