JMMB Group Limited (JMMBGL) has released the following statement:
“Shareholders should note the announcement from the Bank of Jamaica (“BOJ”) of a temporary suspension of dividend payments by financial holding company designates (“FHC’s”), including JMMB Group Limited (JMMBGL), during the 2020 financial year. As regulator of the deposit-taking institutions in the Jamaican financial sector, the BOJ has advised that this initiative is a pre-emptive move to encourage the retention of liquidity and preservation of capital by FHC’s, in order to best equip them to address the global and local economic dislocation arising from the COVID-19 pandemic.
“We anticipate that the Jamaican government and the BOJ will continue to keep the situation under review, and we will update our shareholders of any material determinations we make as a result from time to time as they arise.”
