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Carreras to pay dividends following its recent restructuring exercise

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Shareholders in Carreras limited will benefit from an interim dividend to be paid out of the company’s accumulated profits next month.

The Board of Directors of Carreras say the dividend will value $1.80 per share unit, payable on March 17 to shareholders who are on record as at February 22.

This dividend payment follows the company’s eight per cent improvement in the company’s gross operating revenue to $5.68 billion for the six-month period ended last September.

Net income also climbed 19 per cent year over year from $1.17 billion in 2014 to $1.39 billion in September 2015.

Meanwhile, earnings per share were $285.4 for the reporting period compared to $240.17 in 2014, an improvement the company said was due to increased revenue and reduced costs.

The announcement also follows last month’s announcement by the company of a restructuring exercise to improve effectiveness to remain viable and sustainable in the face of a changing business and economic environment.
Managing director Marcus Steele says that exercise is a push for savings in the company’s route to market as changes in the cigarette market size from one billion sticks to about half that number has forced the company to take drastic measures.

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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