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Hardware and Lumber to declare an interim dividend for the year 2015

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The Board of Hardware Lumber (HL) has advised that come January 29, shareholders will receive an interim dividend in the amount of $1.09 per stock.

It becomes payable to shareholders on record as at the close of business on January 15, 2016 with the ex-dividend date set at January 13, 2016.

The decision by the Board at its last meeting follows the announcement by Grace Kennedy (GK) regarding the conclusion of the sale of its interest in HL.

The sale, which was made to Argyle (a St Lucian company incorporated for the purpose of acquiring and holding the investor’s equity interests), included the divestment of 58.15% of Grace Kennedy’s interest for a price of $18.50 per share.

According to GK CEO, Don Wehby, although the move to sell was not an easy one, the divestment is “consistent with the present strategy of concentrating on the food business locally and internationally and financial services in the region”. BM

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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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