May 2020 Financial News

JMMB Group Limited - Notice of Material Information

May 05, 2020

The Trinidad and Tobago Stock Exchange Limited (TTSE) received notice from JMMBGL advising of the announcement from the Bank of Jamaica (BOJ) of a temporary suspension of dividend payments by Financial Holding Company designates (FHC), including JMMBGL, during the 2020 financial year.

JMMBGL stated that, as a regulator of the deposit-taking institutions in the Jamaican financial sector, the BOJ has advised that this initiative is a pre-emptive move to encourage the retention of liquidity and preservation of capital by FHC’s, in order to best equip them to address the global and local economic dislocation arising from the COVID-19 pandemic.

Furthermore, JMMBGL anticipates that the Jamaican government and the BOJ will continue to keep the situation under review, and JMMBGL will update their shareholders of any material determinations they make as a result from time to time as they arise.

 

Source:
The Trinidad and Tobago Stock Exchange Limited
Tuesday 5th May, 2020