Cayman National shareholders to receive dividend
(CNS Business): Cayman National Corporation (CNC) have announced a net income of over $9 million in the third quarter and the payment of an interim dividend of 5 cents per share. According to the CNC Board of Directors, this dividend will be paid on Wednesday 12 October to shareholders of record as at 11 October 2016.
CNS Board Chair Truman Bodden said, “The directors are pleased that we are again in a position to reward our investors with a significant dividend payment. We are very conscious that for many of our investors, the majority of whom are Caymanians, the payment of a dividend is a significant issue.”
Stuart Dack, President and CEO, added, “As reported in our Shareholder Reports, the last year or two have been challenging but Cayman National is now strongly profitable again. In particular Cayman National Bank is performing very well despite the continuation of low interest rates. At the end of the third quarter we published our results showing a net income of CI$9,309.098, and although our year-end results will not be published for some weeks we are pleased that good levels of profitability are being maintained.”
In its Interim Report, CNC said that the company expected to pay sensible dividends if the profitable trend continues.
Dack said, “We continue to work hard, and we anticipate that the positive trends will continue.”
