Latest News

NCB Capital Markets J$6B Bond is coming soon! Published: 05 May 2017

Coming on the heels of the Caribbean Information and Credit Rating Services Ltd (CariCRIS) assigning a jmA+ rating to NCB Capital Markets, the regional brokerage house will on Wednesday open a $6-Billion bond, providing its investors with another opportunity for financial growth. NCB Capital Markets will offer this bond between May 10 and 31 to all investors. The required minimum investment will be $100,000 and investors will earn 8.5 per cent per annum for a period of three years with quarterly interest payments.

“We like to listen to our clients and that constantly leads us to finding new ways to offer value to them,” said Kerry Spencer, the company's Assistant Vice-President – Wealth Management.

“This new bond, along with our Income Optimizer unit trust product launched in February, is just another way for us to demonstrate that,” she said.

NCB Capital Markets along with its sister company in Cayman which represents the wealth, asset management and investment banking arm of the NCB Group contributed 23 per cent of the Group's overall operating income. This made it the second highest contributor to the Group's earnings for the period ended March 31, 2017.

“The company received a local jmA+ rating with a positive outlook for a debt issue of circa $16 billion, which indicates good creditworthiness and underscores the business strength in Jamaica and its status as an emerging player in the Caribbean,” Spencer added, noting that investors are now able to monetise this strength.

 

Funds raised from the bond offer, Spencer noted, will aid the company in pursuing various opportunities within the region. In addition to Jamaica, NCB Capital Markets has a market presence in the Cayman Islands, Trinidad and Tobago, and Barbados.

 

GraceKennedy Limited Appoints Consultant Published: 04 May 2017

Peter Moses Appointed Consultant to the GraceKennedy Financial Group KINGSTON, JAMAICA May 1, 2017 - Don Wehby, Group CEO of GraceKennedy Limited, is pleased to announce the appointment of Peter Moses as a consultant to the GraceKennedy Financial Group Limited, effective May 1, 2017. Mr Moses will act as a special advisor to the Group CEO on all matters relating to Financial Services within the GraceKennedy Group of Companies. Subject to approval from the Bank of Jamaica, Mr Moses will also be appointed to the Boards of First Global Bank Limited (“FGB”) and GraceKennedy Financial Group Limited. It is anticipated that Mr Moses will step into the role of Chairman of FGB on the retirement of Douglas Orane from that role later this year. Mr Moses has had a distinguished career in banking, having served in several senior roles at Citibank N.A., including Head of CitiFinance and CitiMerchant Bank and Head of Citibank N.A. He has also contributed significantly to the wider Jamaican business community in his roles as President of the Private Sector Organisation of Jamaica and the American Chamber of Commerce. It is expected that he will bring considerable business acumen and insight to his proposed roles within the GraceKennedy Financial Group.  

NCB Financial Group Limited – Revision of Titles & Appointment of Officers Published: 04 May 2017

NCB Financial Group Limited (NCBFG) has advised of the revision of titles of the following directors of NCBFG, effective May 1, 2017:

  • Patrick Hylton – President and Group Chief Executive Officer
  • Dennis Cohen – Group Chief Financial Officer and Deputy Chief Executive Officer

Effective also on May 1, 2017, the title of the Company Secretary, Dave Garcia, was revised to Group General Counsel and Corporate Secretary.

The following additional officers were appointed:

  • Mukisa Ricketts – Group Chief Internal Auditor
  • Misheca Seymour Senior – Group Chief Compliance Officer
  • Allison Wynter – Group Chief Risk Officer

NCBFG further advised that the aforementioned officers also retained their existing responsibilities as officers of NCBFG’s subsidiary, National Commercial Bank Jamaica Limited.

Jamaica Public Service Company Limited Declares Dividend on Preference Shares Published: 04 May 2017

Jamaica Public Service Company Limited (JPS) has advised that their Board of Directors at a meeting held on March 28, 2017, declared quarterly dividends on the undermentioned preference shares payable to shareholders on record as at June 15, 2017.  The payment date is June 30, 2017.  The ex-dividend date is June 13, 2017.

3.5₵ on the 7% Cumulative Preference Shares “B”
2.5₵ on the 5% Cumulative Preference Shares “C”
2.5₵ on the 5% Cumulative Preference Shares “D”
3₵ on the 6% Cumulative Preference Shares “E”

Jamaican Teas Limited 2 for 1 Stock Split Approved at AGM Published: 24 April 2017

Jamaican Teas Limited (JAMT) has advised that their shareholders approved the Board of Directors’ recommendation for a 2 for 1 stock split at the Company’s Annual General Meeting held on April 12, 2017.

1834 Investments Limited Declares Dividend Published: 24 April 2017

1834 Investments Limited (1834) has advised that their Board of Directors have approved a resolution to declare an interim dividend of Eight Cents ($0.08) per stock unit, payable on May 30, 2017, to stockholders on record at the close of business on May 5, 2017.  The ex-dividend date is May 3, 2017.

Jamaica Stock Exchange Appoints Managing Director and New Company Secretary Published: 12 April 2017

The Jamaica Stock Exchange Limited (JSE) has advised that at a Board Meeting held on Wednesday, March 29, 2017, the Board of Directors passed a resolution appointing Mrs. Marlene Street Forrest, the current General Manager and Company Secretary, as Managing Director and a member of the Board of Directors effective April 3, 2017.

Consequent on the appointment of Mrs. Street Forrest, Miss Roxanne Hutchinson, Senior Legal Officer, has been appointed the new Company Secretary, effective April 3, 2017.

The JSE congratulates Mrs. Street Forrest and Miss Hutchinson on their appointment.

Kingston Properties Limited Dividend Declaration and Stock Split Published: 12 April 2017

Kingston Properties Limited (KPREIT) has advised that following the meeting of their Board of Directors on March 31, 2017, the decisions below were taken:

(I)               To recommend to the shareholders of KPREIT at the Annual General Meeting scheduled for May 16, 2017, that each of the 500,000,000 ordinary shares in the capital of the Company be subdivided into two (2) ordinary shares each thereby making a total share capital of 1,000,000,000 ordinary shares.

 (II)              A dividend to shareholders on record as at April 18 was declared in the amount of US$0.00124 per unit. The payment date is May 9 and the X-div date is April 12.