Will now move to 50 per cent tax benefit status
Having completed its first five years on the Junior Market of the Jamaica Stock Exchange, the full exemption of the payment of income tax has ended for lighting and energy company, FosRich.
FosRich was listed on the junior market on December 19, 2017.
Managing Director Cecil Foster posits that the positive financial returns for 2022 reflects the implementation of the specific strategies as outlined within its strategic plan.
NO CHANGES ANTICIPATED IN DIVIDEND POLICY
According to Foster, “we are cognizant that, despite the challenges ahead within our local operating space and the wider global space, we have the right talents and leadership to deliver on our plans for the ensuing period. We will continue to execute on our plans to ensure that we remain competitive and deliver value solutions to our customers.”
The company anticipates that there will be no change in its dividend policy, which continues to be subject to adequate available cash resources.