CARIBBEAN UTILITIES COMPANY, LTD ANNOUNCES INCREASE IN DIVIDEND ON CLASS A ORDINARY SHARES
CARIBBEAN UTILITIES COMPANY, LTD. CLASS A ORDINARY SHARES ARE LISTED FOR TRADING IN UNITED STATES FUNDS ON THE TORONTO STOCK EXCHANGE.
GRAND CAYMAN, Cayman Islands, May 12, 2025 /CNW/ - Caribbean Utilities Company, Ltd. (TSX: CUP.U) ('CUC' or 'the Company') announced today that the Board of Directors has declared an increase in the regular quarterly dividend from US$0.185 to US$0.19 per Class A Ordinary Share. This represents a 3% increase to US$0.76 per share on an annualized basis. The dividend will be payable June 16, 2025 to shareholders of record June 2, 2025.
The principal activity of the Company is to generate, transmit and distribute electricity in its licence area of Grand Cayman, Cayman Islands pursuant to a 20-year Transmission & Distribution ('T&D') Licence and a 25-year non-exclusive Generation Licence (the 'Generation Licence' and together with the T&D licence, the 'Licences') granted by the Cayman Islands Government (the 'Government', 'CIG'). The T&D Licence, which expires in April 2028, contains provisions for an automatic 20-year renewal and the Company has reasonable expectation of renewal until April 2048. The Generation Licence expires in November 2039. Further information is available at www.cuc-cayman.com.
Caribbean Utilities Company, Ltd. ('CUC' or 'the Company'), on occasion, includes forward-looking statements in its media releases, Canadian securities regulatory authorities filings, shareholder reports and other communications. Forward-looking statements include statements that are predictive in nature, depend upon future events or conditions, or include words such as 'expects', 'anticipates', 'plan', 'believes', 'estimates', 'intends', 'targets', 'projects', 'forecasts', 'schedule', or negative versions thereof and other similar expressions, or future or conditional verbs such as 'may', 'will', 'should', 'would' and 'could'. Forward-looking statements are based on underlying assumptions and management's beliefs, estimates and opinions, and are subject to certain risks and uncertainties surrounding future expectations generally that may cause actual results to vary from plans, targets and estimates. Such risks and uncertainties include but are not limited to operational, general economic, market and business conditions, regulatory developments and weather conditions. CUC cautions readers that actual results may vary significantly from those expected should certain risks or uncertainties materialize or should underlying assumptions prove incorrect. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
SOURCE Caribbean Utilities Company, Ltd.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Skillsoft Announces New Employee Inducement Grant Under NYSE Rule 303A.08
BOSTON, June 06, 2025--(BUSINESS WIRE)--Skillsoft (NYSE: SKIL) ("Skillsoft" or the "Company"), the platform that empowers organizations and learners to unlock their full potential, today announced that on June 4, 2025, the Talent and Compensation Committee of Skillsoft's Board of Directors made a grant of 50,000 restricted stock units ("RSUs") of the Company's Class A common stock to Raianne Reiss. The grant of RSUs was offered as a material inducement to Ms. Reiss' hiring as Chief Marketing Officer on April 28, 2025, and was made under Skillsoft's 2024 Employment Inducement Incentive Award Plan. 50% of such RSUs vest ratably over four years, and the remaining 50% vest at the end of a three-year period, based on the achievement of specified annual revenue growth targets, as determined by the Board of Directors, in each case, subject to Ms. Reiss' continued employment with the Company through each vesting date. The awards were granted in reliance on the employment inducement exemption under the NYSE's Listed Company Manual Rule 303A.08, which requires public announcement of inducement awards. The Company is issuing this press release pursuant to Rule 303A.08. About SkillsoftSkillsoft (NYSE: SKIL) empowers organizations and learners to unlock their full potential by delivering personalized, interactive learning experiences and enterprise-ready solutions. Powered by AI and strengthened by a broad ecosystem of partners, the Skillsoft platform helps customers solve some of today's most complex business challenges including bridging skill gaps, improving talent retention, driving digital transformation, and future-proofing the workforce. Skillsoft is the talent development partner of choice for thousands of organizations – including 60% of the Fortune 1000 – and serves a global community of more than 95 million learners. For more information, visit View source version on Contacts Investors Ross Collins or Stephen PoeSKIL@ Media Cameron Sign in to access your portfolio
Yahoo
4 hours ago
- Yahoo
Ituran Location and Control Ltd (ITRN) Q1 2025 Earnings Call Highlights: Record Revenue and ...
Revenue: $86.5 million, a 2% increase year-over-year. Subscription Fees Revenue: $62.2 million, a 2% increase year-over-year. Product Revenue: $24.3 million, a 1% increase year-over-year. EBITDA: $23.3 million, 26.9% of revenues, a 4% increase year-over-year. Net Income: $14.6 million, or $0.73 diluted earnings per share, a 12% increase year-over-year. Operating Cash Flow: $15.5 million for the first quarter. Subscriber Base: Increased by 99,000 to 2,508,000. Dividend: $10 million declared for the quarter, representing $0.50 per share. Net Cash: $75.7 million as of March 31, 2025. Warning! GuruFocus has detected 4 Warning Signs with MOV. Release Date: May 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Ituran Location and Control Ltd (NASDAQ:ITRN) achieved a significant milestone by surpassing 2.5 million subscribers, driven by a net addition of 99,000 subscribers in the first quarter. The company signed a new telematics service agreement with Stellantis, a major car OEM manufacturer, contributing to the subscriber growth. First-quarter revenues reached a record $86.5 million, marking a 2% increase year-over-year, with a 7% growth in local currency terms. EBITDA for the quarter increased by 4% to $23.3 million, with a 12% growth in local currency terms. Ituran Location and Control Ltd (NASDAQ:ITRN) declared a $10 million dividend for the quarter, reflecting strong profitability and cash flow, with an annualized dividend yield of around 6%. The strengthening of the US dollar negatively impacted financial results when translated from local currencies, particularly affecting revenues from Brazil and Mexico. The new OEM agreement with Stellantis, while contributing to subscriber growth, involves lower ARPU compared to the company's average. Increased R&D and marketing expenditures outpaced revenue growth, raising concerns about cost management. CapEx was higher than average in Q1, with expectations for it to decrease in subsequent quarters, indicating potential volatility in capital expenditures. The insurance market in Latin America, particularly in Brazil and Mexico, shows limited short-term potential for usage-based insurance (UBI) solutions, impacting growth opportunities in this segment. Q: In terms of new agreements, does it imply you set up new equipment and provide services for each produced car by Stellantis in Latin America, or do you have some options for them? A: Eyal Sheratzky, Co-CEO, explained that the current agreement with Stellantis is to provide services based on existing technology in their cars. While there is potential to broaden the relationship and add other services or hardware in the future, the current focus is on service provision. Q: What primarily affected the ramp-up of your subscription base, given the recent increase to roughly 100,000 per quarter? A: Eyal Sheratzky noted that the agreement with Stellantis initially brought a bulk of car owners to Ituran, which is not typical. Future quarters are expected to return to the usual rate of about 40,000 new subscribers per quarter. Q: Has Ituran taken steps to improve product gross margins, and what should we expect for the next couple of quarters? A: Eli Kamer, CFO, stated that the improvement in gross margins is due to operational leverage and cost savings. While telematics services margins are expected to improve with subscriber growth, product margins may fluctuate due to product mix changes. Q: What are your expectations for the Latin American insurance market, particularly regarding UBI insurance? A: Eyal Sheratzky mentioned that while there is high demand for car theft solutions in Brazil, the insurance companies in Brazil and Mexico are not yet ready to adopt UBI solutions. However, Argentina has shown some interest, and Ituran is prepared to capitalize on future opportunities. Q: Can you discuss the dynamics in the market for product revenues and how you see the pipeline evolving throughout the year? A: Eli Kamer explained that product revenue pipelines are managed on a daily basis, with stock levels adjusted according to demand. Gross margins for product revenues are expected to remain around 20-25%, depending on the product mix. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
7 hours ago
- Yahoo
Jim Cramer Says 'Carnival (CCL)'s Good, But Royal Caribbean is Great'
We recently published a list of . In this article, we are going to take a look at where Carnival Corporation (NYSE:CCL) stands against other stocks that Jim Cramer discusses. Acknowledging that they recognize that Cramer considers Royal Caribbean Cruises best of breed, a caller inquired about Carnival Corporation & plc (NYSE:CCL). Cramer replied: 'Look, I know, you correctly nailed me and my view, which is that Royal Caribbean's the best. I frankly just have to own best of breed. I know that may make me into someone who's hidebound. I might miss some good stocks. Carnival's good, but Royal Caribbean is great…' A luxurious cruise ship sailing the deep blue sea, sun glistening off its decks. Carnival Corporation (NYSE:CCL) provides leisure travel services through a variety of cruise brands, including Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, Costa Cruises, AIDA Cruises, P&O Cruises, and Cunard. On June 5, Citi analyst James Hardiman increased the price target on CCL from $25 to $28 and maintained a Buy rating. The firm pointed to recent web traffic and pricing analysis that showed improvement from April to May, calling it a positive shift after some softness in April data. Citi noted that pricing remains steady, suggesting cruise operators are showing restraint, especially with most capacity already booked through 2025. Overall, CCL ranks 5th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of CCL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
