WITCO shareholders to receive dividends on September 5

Shareholders of the West Indian Tobacco Company Ltd (WITCO) can expect to receive an interim dividend of $0.10 per ordinary share on September 5.

WITCO made this announcement to shareholders in a notice published on the TT Stock Exchange on August 11.

The interim dividend payment will apply to shareholders of record at the close of business on August 19.

" In accordance with the Companies Act Chapter 81:01, the directors have fixed August 19 as the record date for the payment of an interim dividend. The transfer book and register of members will be closed on August 20 and 21 for processing of transfers to facilitate payment of the dividend," the notice said.

In its unaudited interim results for the six months ended June 30, WITCO reported a profit before tax of $45.9 million during the period.

It said this represents a decrease of $62.4 million or 58 per cent compared to $108.2 million recorded in the corresponding period in 2024.

The profit after tax for the period was $34.4 million, a decrease of 57 per cent or $45.3 million over 2024.

Revenue for the period was $190.7 million, reflecting a 25 per cent decline year-over-year.

In the chairman's review, Ingrid A Lashley said that despite these reports, the company was encouraged by the sequential improvement over the first quarter of 2025, underpinned by focused execution across both domestic and export markets.

"This upward momentum demonstrates the early impact of our consumer-first, multi-category strategy and the effectiveness of our tactical execution.

"We are taking decisive actions to strengthen our foundation and drive future growth while maximising opportunities for innovation and portfolio optimisation to rapidly respond to consumer needs.

"As we build a new foundation for WITCO in 2025, our operations and volume expectations reflect industry realignment.

"While mindful of market volatility, we remain steadfast in our strategic direction – investing in initiatives that reinforce our core, drive innovation and deliver sustainable value for all stakeholders," Lashley said.