Profitability at Jamaica’s largest banking group, NCB Financial, continues to fall, as it navigates through the difficult times brought on by the novel coronavirus pandemic.

In spite of its falling profitability, NCB Financial Group has finally declared a dividend, the first time in over a year. The board of directors at its meeting last week, approved a dividend of $0.50 per ordinary stock unit.

The dividend is payable on May 31, 2021 for stockholders on record as at May 14, 2021. The last dividend payment received by shareholders was back in March last year when the board of directors declared an interim dividend of $1.00 per ordinary stock unit.

In its just released half-yearly performance ended March 31, 2021, NCB Financial Group reported net profit of $9.2 billion for the period, a decline of 31 per cent or $4.1 billion from the prior year. Consolidated net profit attributable to stockholders was down or $3.7 billion to $5.9 billion or a 38 per cent decrease from the prior year.

https://www.jamaicaobserver.com/business-observer/ncb-financial-group-profitability-continues-to-fall_220474?profile=1056