Business Developments in Jamaica – January 10, 2024

Wigton Announce Joint Solar Power Venture

In a strategic move to harness renewable energy, Wigton Windfarm Limited has joined forces with IECSPEI Limited for a solar power venture. The companies inked a USD $7.7 million contract with MBJ Airports Limited, entailing the design, engineering, and installation of six-megawatt roof-mounted and floating solar photovoltaic systems, accompanied by a battery energy storage system.

Barita Approve Dividend

Barita Investments Limited has greenlit a dividend payment of J$1.634 per unit, scheduled for disbursement on February 2, 2024. This decision pertains to ordinary shareholders recorded as such by the close of business on January 23, 2024.

TransJamaican Highway Dividends Due Jan. 15

TransJamaican Highway Limited advises shareholders of its 8.0% cumulative redeemable preference shares that the quarterly dividend, due for the period ending December 31, 2023, will be disbursed on January 15, 2024.

Realizing The Commercial Promise Of The Blue Mountain Coffee Bean

Jamaican Blue Mountain coffee is gaining recognition globally, with potential for a premium market. The country’s gastronomy network, exemplified by events like the January 9 celebration of Jamaica Blue Mountain Coffee Day and the burgeoning cafe culture, signals local consumer trends. With an anticipated 3 million visitors in 2024, Jamaica is poised to meet the demands, especially in its primary market, Japan. Jacqueline Sharp, Managing Director of Coffee Traders Limited, highlights the commodity’s growing appreciation worldwide. Minister Bartlett underscores untapped potentials beyond the coffee bean itself.

Jamaica Stock Exchange Update: January 10, 2024

In the latest market report, the JSE Main Market Index experienced a decline of 2,758.68 points (0.85%), closing at 320,529.65 points. The JSE Composite Index also decreased by 3,548.11 points (0.98%), concluding at 357,372.64.

Market activity featured 58 stocks, with 27 advancing, 20 declining, and 11 trading firm. Noteworthy winners included Jamaica Public Service Co. Ltd. (14.99%), JMMB Group Limited 7.15% Cumulative Redeemable Preference Share (13.53%), and A.S. Bryden & Sons Holdings Limited (8.69%).

Conversely, Ciboney Group Limited (-12.10%), Sagicor Group Jamaica Limited (-9.41%), Mayberry Group Ltd. (-9.11%), and Mayberry Jamaican Equities Limited (-7.68%) faced declines.

The total market volume amounted to 12,511,690 units valued at over $136,341,735.43.

Volume leaders included Wigton Windfarm Limited Ordinary Shares (29.31%), Jamaica Broilers Group (25.70%), and JMMB Group Limited 7.50% (18.78%).