BASSETERRE, ST. KITTS – Concerns continue to be expressed over the non-payment of dividends to thousands of the shareholders of the St. Kitts-Nevis National Bank (SKNANB) for the business year 2015/2016.
“I want to know if Hon. Konris Maynard or Hon. Nigel Carty can tell what is happening to the dividends from National Bank which is long overdue. I want to get some information,” ask a male caller to the Wednesday edition of Freedom 106.5 FM during which members of the St. Kitts-Nevis Labour Party were guests.
Responding to the caller, Maynard, the West Basseterre Member of Parliament noted that the financial year for the institution of which the Federal Government of St. Kitts and Nevis is majority shareholder ends in June each year.
“This is now March. I understand that there is yet to be an Annual General Meeting (AGM). There is also yet to be an announcement of dividends as it pertains to the Bank. Just like the caller we are waiting in abeyance to find out from the relevant representatives (directors) what is the hold up on the AGM and why have shareholders received any dividends as yet,” said Maynard, who noted that another financial year ends in June 2017.
“It is a concern to many who are shareholders of National Bank,” said Maynard.
Earlier this year, individuals have been asking about the AGM and the payment of dividends, usually completed in December and January.
The new National Bank Board appointed by Prime Minister and Minister of Finance, Dr. the Hon. Timothy Harris is chaired by Mr. Howard McEachrane.
Other Board members are: Norton A. Bailey 1st Vice Chairperson; Alexis Nisbett 2nd Vice Chairperson; Talibah Byron, Director; Elreter Simpson-Browne, Director; Dr. Cardell Rawlins Director; Lionel Benjamin, Director; Theodore Hobson, Director; William Liburd, Director and Wallis Wilkin, Director.
The Forty-Fifth Annual General Meeting of the St. Kitts-Nevis-Anguilla National Bank Limited was held on January 21st 2016.
“All shareholders of record as at January 7, 2016 will be entitled to receive a dividend in respect of the financial year ended 30thJune 2015.
Net profit before tax for 2015 was EC$23.3 million.
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