Stock exchange pays government special dividend

Cayman Stock Exchange Chairman Anthony Travers, left, and Chief Executive Officer Marco Archer, center, present a US$1 million check to Financial Secretary Kenneth Jefferson at his office in the Government Administration Building on May 30.

The council of the Cayman Islands Stock Exchange has resolved to pay government a $1 million special dividend for the benefit of the Government Treasury for the exchange’s 18-month fiscal period which ended on Dec. 31, 2017.

Since becoming profitable a decade ago, the Cayman Islands Stock Exchange has paid an annual dividend of 75 percent of its net income to its sole shareholder, the Cayman Islands government.

In September 2016, the stock exchange declared a dividend of US$449,949 for its prior financial year.