Supreme Ventures Limited Dividend Policy
This Dividend Policy outlines the guidelines applicable to Supreme Ventures Limited ( referred to as ‘the Company’) for declaring and distributing dividends to shareholders out of profits as determined by the Board of Directors, which accords with section 158 of the Companies Act and pursuant Articles 129- 138 of the Company’s Articles of Incorporation.
Dividends are a portion of the total return that investors receive, and for many, it is the most important part of their investment which impacts the investors’ perception of the value of the stock and the Company’s financial strength as well as future prospects for growth.
Dividend Pay-out Rate
The Board of Directors will declare, at its discretion, dividends to shareholders providing such declaration is in accordance with this policy and after taking into consideration any regulatory or other requirements. The policy is that the Company pays out 90 percent of profit after tax in dividends (less any non-cash adjustments), which is accrued monthly and paid out quarterly. The final dividend will then include any adjustments based on any changes to prior quarter or year-end adjustment to conform with the 90% policy. A dividend once declared can only be paid from retained earnings. Further, the Board, at its discretion, may alter the dividend payout ratio from the stipulated target from time to time.
Unless otherwise approved by the Board, it is the policy of the Company that:
- the record date shall be eleven (11) business days after the date of the relevant Board meeting at which the dividend is declared; and
- the payment date shall be no more than ten (10) business days after the record date.
Related Policies and Review Frequency
This policy is consistent with and should be read in tandem with the relevant policies governing the Company’s cash and capital management activities and procedures of the Company.
The Dividend policy will be subject to review on an annual basis or more frequently as determined by the Board of Directors.
|Approved by the Board on:
February 28, 2020
|Approved by the Board on:
April 22, 2021
Dividend Payment by Direct Deposit
In our effort to serve you better and faster, shareholders can receive dividend payments directly to their bank account or broker account. We encourage all shareholders to sign up for this payment method which would replace payment by cheques. The process is easy! Simply download and complete the Investor Instruction Form and submit the completed form in one of the following ways:
1. Sending an email to our Registrar at [email protected] or
2. Delivering to the Registrar at the address below:
Jamaica Central Securities Depository Limited
40 Harbour Street
For more information, you may contact the Registrar at (876)-967-3271 or send an email to [email protected]