Cayman National announces interim dividend

Cayman National Bank in the Cayman Islands - PHOTO: TANEOS RAMSAY

Cayman National Corp. has announced the payment of an Interim Dividend of 5 cents per share. This dividend will be paid on Wednesday, Oct. 12, to shareholders of record as at Oct. 11, 2016.

Truman Bodden, chairman of Cayman National, 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, said, “The last year or two have been challenging, but Cayman National is now strongly profitable again.”

In particular, Cayman National Bank was performing very well despite the continuation of low interest rates, he noted. “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the third quarter we published our results showing a net income of CI$9,309,098, and although our year-end results will not be published for some weeks we are pleased that good levels of profitability are being maintained.”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.

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