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JMMB offers TT shareholders US$ dividends
JMMB Group has committed to paying dividends to its T&T Shareholders in US Dollars.
A JMMB media release yesterday explained that this statement was made by JMMB Group Chairman, Archibald Campbell as he closed the JMMB T&T Investor Briefing- JMMB In The Headlines held on November 9 at the Hyatt Regency Hotel, Port-of-Spain.
Campbell explained that once all the regulatory requirements are satisfied, the Group would issue its dividends in US Dollars, with this transition expected to be completed by June 2018.
However, the Chairman further advised that in the interim once the issued mandates are completed by Shareholders before November 17, 2017, and returned to their brokers with the appropriate identification and signatories, shareholders can begin to receive their dividends in US dollars for the next payout due December 2017.
Given the ongoing challenges that continue to impact the availability of foreign exchange on the local market, this announcement was enthusiastically welcomed by the Shareholders in attendance.
The Investor Briefing also offered the opportunity to commemorate the JMMB Group's 25th anniversary and to highlight its accomplishments, including those of JMMB Bank and JMMB Investments T&T.
In his presentation, Group Chief Executive Officer, Keith P. Duncan noted that the Group, notwithstanding some of the local challenges the organization has had to navigate, is optimistic about its future in T&T.
Despite an unfavourable foreign exchange market, unstable debt trajectory and a non-diversified economy, Duncan stated that the organization will continue to create opportunities for growth by supporting growth in the primary and secondary investment markets for fixed income, improving its operational efficiency and centralizing and standardizing functions.