Sagicor to review dividend policy

SAGICOR Financial Corporation has announced plans to revise its dividend policy.

It said so in its third quarter report for the period ended September 30, 2020.

The announcement also comes as directors of the region’s leading finance company revealed a quarterly dividend to be paid next month to shareholders on record at the close of business on November 25, 2020.

“This is the fourth dividend payment Sagicor will be paying to its shareholders since becoming publicly listed company on the Toronto Stock Exchange,” officials of the Sagicor group have

reported. “Sagicor will continue to review its dividend policy going forward, given the economic situation stemming from the COVID-19 pandemic.”

Directors have declared a dividend of US$0.05625 per common share payable on December 16, 2020.

Total comprehensive income to shareholders of Sagicor was given as $3.3 million, which reflect an improvement in asset prices as measured by at fair value through other comprehensive income.

Financial commentaries have maintained that the goals of firms establishing a dividend policy, are to maximise owners’ wealth. The firm must also establish a policy that has a favourable effect on the wealth of the majority of owners.