Massy shareholders to collect final dividend of two dollars a share

SHAREHOLDERS of Massy Holdings Limited are to receive a final dividend of two dollars a share, the Chairman Robert Bermudez is reporting.

Announcement of the dividend, which represents a 10 per cent increase over that for the previous financial year, comes on top of the Group recording a 21.2 per cent increase in after-tax profits for the financial year September 2020.

There were a number of positive developments in view of the COVID-19 pandemic. Revenues for the year were $11.1 billion and total assets of $13.2 billion. Earnings per share grew 23 per cent to end the reporting period at $7.11.

Based on these and other good results, “the Board (of Directors) declared a final dividend of two dollars, which when added to the interim dividend of $0.50 gives a total dividend for the year of $2.50, Bermudez said in the review.

Massy Holdings Limited is a Trinidad and Tobago headquartered conglomerate with oper-ations in a number of Caribbean countries including Barbados.

The Chairman pointed out that 2020 was an unprecedented year for the Massy Group and for the entire world. According to him, “The COVID-19 pandemic created global public health and economic crises, which resulted in an operating environment that can only be described as highly volatile and uncertain for business.”

He pointed out that faced with challenges and uncertainties arising from lockdowns, declines in demand from affected sectors... “our leaders moved early and quickly to engage and empower our

organisations to respond to the threats and challenges”.

The Chairman remarked that during the period of the crisis, they are proud of the role their Group has played in securing food supply to all of the territories where Massy Holdings’ Integrated Retail Business operates.