KPREIT shareholders vote in favour of 1:1 Stock Split
Mr Sinclair began the proceedings by welcoming us to this the 9th annual general meeting. He stated that “ KPREIT has now developed into a real estate investment trust with properties in Jamaica, United States and Cayman Islands.” Mr. Sinclair highlighted main performance indicators during the year such as the stock appreciation which increased by 42% year over year as well as increasing dividend payments by 100%, making payments of USD $400,000 in FY2016 compared to US$200,000 paid in 2015, with a 1 year growth dividend yield that is the highest of its peers. Based on the appreciation of the
CWJ reports a loss of $533 million for first quarter ended March 2017
For the first quarter ended March 31, 2017, Cable & Wireless Jamaica Limited (CWJ) reported revenue for increased by 10% to $6.38 billion relative to $5.81 billion in 2016. The CEO, Garfield Sinclair, attributed the increase to, “a 17% increase in Mobile revenues.” Additionally, he states that “This growth in our mobile business both in revenue and revenue share reflects the continuing customer migration from fixed to voice and data services.” Their highly successful broadband expansion program that will see additional communities or approximately 60,000 homes benefitting from access to high speed internet that will ultimately improve subscriptions. Mr Sinclair
DCOVE reports 6% decline in net profits for the first quarter of 2017
Dolphin Cove Limited (DCOVE) reported total revenues of US$4.29 million, a 3% increase when compared to the US$4.15 million booked the year prior. Revenue from Dolphin Attraction contributed US$2.423 million to Total Revenue; this represents a 0.1% decline when compared to the US$2.421 million reported in 2016. Revenues from the Ancillary Services totaled US$1.86 million, up from last year’s US$1.73 million. DCOVE noted, “Since Easter fell in to the second quarter of 2017 and the first quarter of 2016, this year’s first quarter of 2017 did not benefit from the usual significant spike in revenue during the Easter season. Despite