20 per cent increase in dividends

SHAREHOLDERS of the Ansa McAL group of companies will be getting piece of a $300 million pie, as the group enjoyed a large dividend increase last year. The announcement was made during the Annual General Meeting held at the Mariott Hotel.

The board of directors told shareholders that they approved a dividend increase in 2018 from $1.20 to $1.80. Board members said it represented a 20 per cent increase in dividends – one of the largest corporate dividend increases in TT history.

This means the group will pay out $310 million or 43 percent of their profit after tax. The group of companies saw a revenue growth, from $6,244 million to $6,385 million, in spite of what was called economic suppression caused by lower energy revenues, increased unemployment, FOREX shortages and the fiscal impact of Barbados’ debt restructuring.