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Rodders Holgado Posts JCF Dividend, Puts Merger Rumors to Rest
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Written by Nicolo Luminos
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Saturday, 22 November 2008 |
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For SLReports.net
Rodders Holgado formed Jamaica Estates Currency Fund (JCF : ISE) to exploit arbitrages that occur in all the SL currency markets. Since June of this year JCF(ISE) has paid L$0.12 in dividends per share for a 6DYA(6-month Dividend Yield Average) of L$0.024 over the course of 11 dividend payments.
The Openspace Policy Change has hit JAM(ISE) and JCF(ISE) particularly hard, and Holgado is not necessarily confident in the future of either security.
"With LL's new Open Space policy it is possible that I may be leaving SL, should this happen all JCF unitholders will be paid a final dividend of $L1 per unit. Your lindens are quite safe and not a single one of them has ever been lost, and hopefully never will." Holgado said in today's press release. "A lot has been said about a merger between JCF and JAM, to put this matter to rest, a merger between the two is not possible and will never happen."
Even in the currently depressed economic environment, JCF(ISE) was able to eek out a profit of L$10,880, and paied a dividend of L$0.018 per share.
Georg Pennell was the first shareholder to come out in support of Holgado after the press release, "Rodders, you have consistently delivered great results to us. The JCF resturn is more than 21% on a yearly basis. Thanks for that. I hope you can solve your issues with LL and stay in sl."
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Last Updated ( Saturday, 22 November 2008 )
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