November 3rd - November 7th, 2008
Trading momentum declined significantly this week in the local stock market, with investors trading in seven out of the twenty-four listed securities, of which one advanced, four declined and two remained unchanged.
A total of 29,058 shares changed hands, representing an decrease of 60,903 shares, or 67.7% versus last week's trading volume of 89,961 shares.
J.S. Johnson & Company Limited (JSJ), was the only advancer of the week with 1,000 shares, rising by $0.10 or 0.91% to close at $11.10. Commonwealth Bank Limited (CBL) was volume leader, with 13,798 of its shares trading, to end the week unchanged at $7.30.
Doctors Hospital Health Systems Limited (DHL) and Finance Corporation of Bahamas Limited (FIN) were the lead decliners of the week, both dropping by $0.11, respectively. 8,150 shares of FIN traded, to end at a new 52-week low of $11.89. DHS traded 3,000 of its shares, closing at $2.66.
No notes traded in the local market this week.
Cable Bahamas Limited (CAB) released un-audited financial results for the nine months ending September 30, 2008. For the most recent quarter net income stood at $5.9M compared to $5.3M for Q307, an increase of $595K or 11.3%. CAB reported operating income of $6.9M for the quarter, an increase of $277K or 4.2% QoQ. CAB's quarterly revenues of $20.5m increased by $1.4m or 7% QoQ, while its operating expenses of $10.6m increased by $902k or 9%.
Basic and diluted earnings per share for the quarter increased from $0.27 in Q307 to $0.30, representing an increase of $0.03 or 11.11%.
Private Placement Offerings:
FOCOL Holdings Limited (FCL) announced that it will be extending the deadline of its private placement offering. The preferred shares will be paying a dividend rate of prime + 1.75%, payable semi-annually.
Consolidated Water Company Limited BDR's (CWCB) has declared a quarterly dividend of $0.013 per share, payable November 07th, 2008 to all shareholders of record date September 30th, 2008.
FOCOL Holdings Limited (FCL) has declared a quarterly dividend of $0.06 per share, payable November 11th, 2008 to all shareholders of record date October 31st, 2008.
FAMGUARD Corporation Limited (FAM) has declared a quarterly dividend of $0.06 per share, payable November 14th, 2008 to all shareholders of record date November 07th, 2008.
Bank of The Bahamas Limited (BOB) has declared a semi-annual dividend of $0.16 per share, payable November 25th, 2008 to all shareholders of record date November 17th, 2008.
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