Junior Market leads
As several companies raise money through additional public offerings, junior market companies lead January with most of the double-digit gains seen on the local market. Jamaica Teas and Mailpac Group Limited were the best-performing stocks for January as they each delivered 40 per cent increases since the conclusion of 2020. Lumber Depot, Caribbean Flavours & Fragrances, Honey Bun and Salada Foods Limited were the other top stocks leading with 20 per cent increase in prices.
The top losers were Portland JSX, Radio Jamaica, Palace Amusement Company, Eppley Limited, CAC 2000 and Ironrock Insurance Company.
Dividends ‘rain’ as earning seasons starts
With more relative certainty in the general environment, more companies have started to increase their dividend payments to shareholders with the quarterly earnings seasons coming near. As a result, Barita Investments Limited will be paying a $809.9 million ($0.746) dividend to shareholders next week with Honey Bun paying a $42.4 million ($0.09) dividend as well. Wisynco Group, Access Financial Services and Kingston Properties have all declared dividends with Pulse Investments, Mailpac, Indies Pharma, Carreras, Eppley, Tropical Battery, Sterling Investments, Cargo Handlers, and Proven Investments Limited considering dividends shortly.
– David Rose