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Cave Shepherd Building in Bridgetown, Barbados (Photo: Eppley Caribbean Property Fund)

Cave Shepherd shells out Bds$389,000 in share options to employees

Cave Shepherd Building in Bridgetown, Barbados (Photo: Eppley Caribbean Property Fund)

Barbadian retail giant Cave Shepherd and Company Limited announced on December 24 via the Barbados Stock Exchange that 83,735 common shares in the company were listed on the Exchange representing shares issued in lieu of bonus and employee share option plan.

Cave Shepherd and Company listed more than 83,000 shares in lieu of bonus and employee share option plan. (Photo: myguidebarbados.com)

Shares last traded at 4.65, valuing the gift to employees at BD$389,367.75

For the six months to June, the retailer made net profit of BD4.58 million on revenue of BD$12.37 million.

This compared to six months to June in 2018 when net profit was BD$3.48 million made on revenue of BD$10.63 million.

Net profit at year end December 2018 was BD$23.48 million

The Barbadian-listed company was formed in 1906 as a partnership between two men, Messrs Cave and Shepherd.

 For several decades, the company itself retailed goods to both locals and tourists from its flagship store on Broad Street.

 In 2000, however, Cave Shepherd & Co. Limited together with what is now Dufry International AG, formed a joint venture company – Duty Free Caribbean (Holdings) Ltd, in which Cave Shepherd owns a 40 per cent stake, to operate its retail operations.

Cave Shepherd & Co. Limited has interests in financial services through equity holdings in Fortress Fund Managers (60 per cent), Signia Financial Group (40 per cent), DGM Bank & Trust (40 per cent) and Cave Shepherd Credit Card (100 per cent). 

Currently, Cave Shepherd & Co. has interests in retail, tourism, financial services, property development, and international business, as outlined on its company website.