Seprod Limited Declares Interim Dividend, Payable on October 19, 2020
September 20, 2020 at 10:45 pm EDT
Share
Seprod Limited has advised that at a Board of Directors held on September 17, 2020, the Board declared an interim dividend with respect to the ordinary shares in the capital of the Company payable on October 19, 2020 to Seprod Shareholders on record as at September 30, 2020. The ex-dividend date is September 29, 2020. The dividend declared has the following two components: Cash of $0.30 per Seprod Share. Additionally, 15,447,465 shares (-CPFV Shares, recently purchased by Seprod Limited-) in the Eppley Caribbean Property Fund ? Value Fund at a ratio of 0.02171 CPFV Shares for every Seprod Share held. Fractional CPFV Shares will be rounded to the nearest CPFV Share. Seprod Shareholders owning less than 20,000 Seprod Shares will receive cash in lieu of CPFV Shares in proportion to their holdings of Seprod Shares. Cash payments in lieu of CPFV Shares will be based on the closing price of CPFV Shares on the Jamaica Stock Exchange as at September 17, 2020.
Seprod Limited is a Jamaica-based company. The Company operates through two business segments: Manufacturing and Distribution. The Manufacturing segment includes the operations of manufacturing and sale of oils and fats, corn and wheat products, cereals, milk products, juices, and biscuits. The Distribution segment is engaged in the merchandising of consumer goods. The Company offers its products under various brands, such as Betty, Butterkist, Chef, Chiffon, Cool Fruit, Delite, Eve, Gold Seal, Golden Grove, Miracle, Pronto, Serge, Supligen and Uncle Samâs. The Company's subsidiaries include Serge Island Dairies Limited, which is engaged in manufacture and sale of milk products and juices; International Biscuits Limited, which is engaged in manufacture and sale of biscuit products; Caribbean Products Company Limited, which is involved in the manufacture and sale of oils and fats, and Facey Commodity Holdings Limited, which is engaged in Investment activities.