This week, the West Indies Oil Company (WIOC) will be making the second
payment of dividends to individuals or institutions who purchased shares in the
company at its public offerings, exactly two years ago.
It was in July 2021, when the government reduced its shareholdings in the
company and offered shares for sale to the public. Company sources say the
shareholders total between eight and nine hundred persons or institutions.
According to the source, the payments which started on Tuesday will amount to
$9.7 million by the time they are concluded within a matter of days.
In a statement, the company said its Board of Directors took a decision early this
month to pay a dividend of $2.24 per share. It added that the payments are being
processed by the Eastern Caribbean Central Security Depository (ECCSD) starting
on Tuesday.
“We encourage shareholders who have opted for direct deposits to allow three
working days for payments to be credited to their accounts via electronic funds
transfer. For payments via cheques, the timing would depend on the postal
authorities’ delivery schedule,” the statement noted.
WIOC is one of the first local companies to be listed in the Eastern Caribbean
Securities Exchange.
