Chairman of Sterling Investments Limited, Derek Jones says the company’s strategy of using efficient funding sources such as margins, to finance additional bond purchases, has continued to pay dividends to stockholders.
This was disclosed in his 2016 Annual Report to shareholders.
Sterling Investments has grown assets by just over 4-percent, increasing from just over $930-million in the previous year to just over $970-million.
The portfolio profited from funds raised through the Dividend Reinvestment and Complementary Share Purchase programmes launched in the second half of the year.
In July last year, Sterling Investments introduced two new programmes to the market.
These were the Dividend Reinvestment Programme which allows investors to reinvest their dividends automatically.
The other is the Complementary Share Purchase Programme, which allows existing shareholders to purchase shares once every calendar quarter.
These programmes are in line with the strategic direction of the company and have contributed to growth in the company’s assets by contributing to the funding of the investment portfolio.
Revenue for the period he says posted strong growth of nearly 19-percent, increasing from almost $120-million to just over $140-million.