Jamaican service station operator, Future Energy Source Company has updated its dividend policy.

The revised policy stipulates that the Board of Directors of FESCO may approve an annual dividend of a minimum of 25 per cent of net profits to be made available for distribution twice per year.

This is subject to the need for reinvestment in the company. There shall be a standard dividend schedule for bi-annual dividend payments.

This dividend policy shall be subject to annual review and may be revised from time-to-time at the discretion of the Board due to, among other things, changes in the return-on-equity of the company, its liquidity needs or material changes in the company’s tax policy affecting the business.

The Board of Directors of FESCO approved the updated dividend policy during its last board meeting held on December 15, 2021.