JPS Board approves US$ dividend payout for Class F prefs
The board of electricity provider the Public Service Company Limited has approved a payout to shareholders of its F preference share a total dividend of US$588,000.14 or US$ 0.239452054794521 per share/stock.
In total, the company will distribute J$91,551,621 at today’s exchange rate. The US dollar was valued at $155.7 to one US dollar on Monday December 9.
The sum is payable on December 20, 2024, to share/stockholders on record at close of business on December 17, 2024. The amount will be distributed out of retained earnings.
The Class F, a 9.5 % share, is listed on the main market of the Jamaica Stock Exchange where it last traded for $2,755.00 per unit.
In 2013, JPS issued the 9.5% – at the Jamaican dollar equivalent of US$10. It was indexed to the US dollar, which increased its attraction to investors.
Among the top ten shareholders in the issue is the Government’s National Insurance Fund which owns 14 per cent; GraceKennedy Pension funds with 11 per cent of shares ; and JPS Employees Superannuation Fund with ten per cent.
Other top ten shareholders are Guardian Life Limited, ATL Group Pension Fund Trustee Nominee Limited, Sagicor Life Jamaica Limited, SJIML A/C , Sagicor Pooled Foreign currency Fund , Prime Asset Management, JPS Employees superannuation fund.
Total issued capital is 2,455,607 while the total units owned by the top 10 shareholders are 1,722,436 or s 70.1430 per cent.
Annually JPS pays dividends on five classes of preference shares listed on the Jamaica Stock Exchange
As at month end September 2024, which is its third quarter, the electricity provider had total liabilities of $1.06 billion.
The company reported declining revenue of US$274.93 million for nine months in 2024 compared to US$287. 6 million at September 2023.
For the nine months, however, net profit was reported at US$49.71 million up from US$47.17 million at September 2023. Total assets at September were $1.71 billion flat in comparison to last year’s $1.7 billion.
Earnings per share at September was $0.30 cents up from $0.29 cents at nine months in 2023.
JPS describes itself as an integrated electric utility company. It is sole distributor of electricity in Jamaica, engaged in the generation, transmission and distribution of electricity. It also purchases power from various Independent Power Producers (IPPs).
Marubeni Corporation of Japan and Korea East-West Power (EWP) jointly own 80 per cent of company shares. The Government of Jamaica and a small group of minority shareholders own the remaining shares.
In total, the company will distribute J$91,551,621 at today’s exchange rate. The US dollar was valued at $155.7 to one US dollar on Monday December 9.
The sum is payable on December 20, 2024, to share/stockholders on record at close of business on December 17, 2024. The amount will be distributed out of retained earnings.
The Class F, a 9.5 % share, is listed on the main market of the Jamaica Stock Exchange where it last traded for $2,755.00 per unit.
In 2013, JPS issued the 9.5% – at the Jamaican dollar equivalent of US$10. It was indexed to the US dollar, which increased its attraction to investors.
Among the top ten shareholders in the issue is the Government’s National Insurance Fund which owns 14 per cent; GraceKennedy Pension funds with 11 per cent of shares ; and JPS Employees Superannuation Fund with ten per cent.
Other top ten shareholders are Guardian Life Limited, ATL Group Pension Fund Trustee Nominee Limited, Sagicor Life Jamaica Limited, SJIML A/C , Sagicor Pooled Foreign currency Fund , Prime Asset Management, JPS Employees superannuation fund.
Total issued capital is 2,455,607 while the total units owned by the top 10 shareholders are 1,722,436 or s 70.1430 per cent.
Annually JPS pays dividends on five classes of preference shares listed on the Jamaica Stock Exchange
As at month end September 2024, which is its third quarter, the electricity provider had total liabilities of $1.06 billion.
The company reported declining revenue of US$274.93 million for nine months in 2024 compared to US$287. 6 million at September 2023.
For the nine months, however, net profit was reported at US$49.71 million up from US$47.17 million at September 2023. Total assets at September were $1.71 billion flat in comparison to last year’s $1.7 billion.
Earnings per share at September was $0.30 cents up from $0.29 cents at nine months in 2023.
JPS describes itself as an integrated electric utility company. It is sole distributor of electricity in Jamaica, engaged in the generation, transmission and distribution of electricity. It also purchases power from various Independent Power Producers (IPPs).
Marubeni Corporation of Japan and Korea East-West Power (EWP) jointly own 80 per cent of company shares. The Government of Jamaica and a small group of minority shareholders own the remaining shares.
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