On September 10, during a meeting of the Board of Directors of Sygnus Credit Investments Ltd (SCI), an interim dividend of US$0.00262 per share, or US$1,550,000 was declared following the audited results for the financial year ended June 2021.
The interim dividend of US$1,550,000 is the largest amount ever paid by SCI and was facilitated by net profits which increased by 154.9 per cent to a record US$5.03 million, record total investment income of US$6.49 million (up 44.2 per cent) and a record private credit portfolio of US$82.80 million (up 54.5 per cent).
The interim dividend of US$1,550,000 represents the second dividend payment by the company since its additional public offering (APO) in January 2021, where it issued an additional 249,887,900 ordinary shares. SCI’s first dividend after the APO was US$868,741 or US$0.00147 per share paid in April 2021. The dividend payment will be made to all shareholders on record as at September 30, 2021 and will be paid on October 15, 2021. The ex-dividend date will be September 29, 2021.
“Despite the challenging times, SCI continues to deliver on its promise to return a large amount of profits to its shareholders, which has been done since inception,” stated Jason Morris, co-founder and executive vice president & chief investment officer, Sygnus.
In total, US$2,418,741 or US$0.00409 per share was declared/paid on the results for the financial year ended June 30, 2021. In the three years since its initial public offering in May 2018, SCI has delivered on its promise to shareholders, having declared/paid a total of US$6,251,850 in dividends, equivalent to returning 10.3 per cent of its share capital to Ssareholders.
Shareholders who hold J$ shares will be paid the J$ equivalent of the US$ dividend declared per share. The exchange rate used will be the weighted average spot exchange selling rate published by the Bank of Jamaica (BOJ), five business days immediately preceding the date of payment of the dividend.