THE DIRECTORS of Capital & Credit Merchant Bank (CCMB) have declared an interim dividend of ten cents (10c) per share, payable in January next year. This is the CCMB's first dividend declaration since it went public and listed its shares on the Jamaica Stock Exchange on May 26, 2003.
In a statement, the Board Chairman, Ryland T. Campbell, announced that the interim dividend would be payable on January 26, 2004, to "all stockholders who are on record as at January 13, 2004." The stock trades ex-dividend on January 9, 2004.
Capital & Credit Merchant Bank earned after tax profits of $297.57 million for the nine-month period January to September 30, 2003 an increase of 45.42 per cent over the corresponding period in 2002; and $20.2 million above after tax profit of $277.37, for the full year ended December 2002.
The Management and Directors of Capital & Credit have expressed confidence that the company will achieve its projected full year after-tax profits of $420 million.
Mr. Campbell, further stated: "payment of this interim dividend is consistent with CCMB's policy to distribute some of the profits to its shareholders, while carefully positioning itself to meet its growth and expansion requirements."
Just last week (December 1) CCMB opened its full service branch in Montego Bay, as part of this strategic expansion. At that time bank president & CEO, Curtis Martin, said he expected the bank to perform well, as it would be offering a "range of new products and services that will add significant value to the Montego Bay community."
