CHAIRMAN of the National Insurance Board of Trinidad and Tobago (NIBTT), Patrick Ferreira, says the organisation’s investment in the Massy Group is crucial to ensuring the financial security of over 600,000 insured persons.
Ferreira commended Massy for “their record-breaking results and the largest dividend payout in their history, emphasising the importance of NIBTT’s investment in securing the financial well-being of our stakeholders.”
The Massy Group recently announced that, starting in the first quarter of FY 2025, dividends will be paid quarterly.
“This shift to more frequent payments demonstrates the Group’s dedication to providing regular and predictable returns for its investors,” Massy stated.
Speaking on the company’s financial strategy, Massy’s chief financial officer, James McLetchie, said, “Massy remains committed to delivering consistent dividend income to shareholders as part of its long-term value creation strategy. The company prioritises sustainable growth that benefits the broader community and supports intergenerational value creation.”
According to NIBTT, Massy’s decision to transition to quarterly dividend payments starting FY2025 reflects their dedication to sustainable growth and value creation.
“NIBTT remains committed to fostering partnerships that align with our mission to provide financial security for the people of Trinidad and Tobago,” it stated.
Ferreira, extended his congratulations to the Massy leadership team on their “impressive financial performance and dividend declaration”, a release from Massy stated.
“NIBTT’s significant investment in Massy forms part of our portfolio, providing protection against the economic and social distress caused by loss of earnings arising from work-related injuries and other contingencies.”
NIBTT recently participated in Massy Group’s stakeholder engagement session, which included institutional investors, stockbrokers, and analysts.
For the financial year ended September 30, Massy reported after-tax profits of $712.43 million marking a 12.36% drop from the $812.93 million the group earned in 2023.
Massy recorded revenue of $15.72 billion for financial year, representing a 10.82% increase over the $14.19 billion the group generated for the same period in 2023.
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Publish date : 2024-12-03 12:34:00
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