Investors expressed their displeasure with NCB Financial Group Limited’s (NCBFG) decision to skip another dividend payment, shedding the company’s shares in early morning trading Thursday, pushing the stock price traded down to $52, despite the financial conglomerate raking in $7.39 billion in consolidated net profit for its third quarter up to June 30.
There were 98 trades at market open valued at $10.64 million Thursday on the Jamaica Stock Exchange (JSE) as NCBFG’s stock price traded down from $74.16 to $52. However, a trade for 3,061 shares at $52 and another trade for 10,000 shares at $52.01 were cancelled by the JSE’s market control as the prices would fall out of the trading band for the new reference price of the stock. As a result, $55 became the new 52-week low for NCBFG, a price not seen in seven years with 145,697 shares traded at the market open with a $73 high. However, the stock closed the day at $69.88 as Mayberry Jamai
https://www.jamaicaobserver.com/business/52-investors-react-to-another-quarter-of-no-ncb-dividends/
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