Posted strongest results since going public

Durrant Pate/Contributor

Plastic pipes and fittings manufacturer and distributor, OMNI Industries, has declared its first interim dividend since listing on the Jamaica Stock Exchange (JSE) Junior Market in June 2024.

The dividend set at J$0.0114 per share, represents a payout of roughly $28.5 million, which will be paid on next month-end. The dividend is equivalent to 20% of OMNI’s year-to-date earnings, and comes as the company posts its strongest results since listing for FY2026.

The decision to declare a dividend was announced yesterday following a Board meeting. Shareholders on record as of September 15, 2026, will qualify for the payout, with the ex-dividend date set for September 14, 2026.

Good half-year performance 

For the six months ended June 30, 2026, OMNI’s revenue climbed 35% to $1.33 billion, with pre-tax profit up 74% to $142.5 million, stemming from steady demand from contractors and homeowners rebuilding after Hurricane Melissa and consistent momentum in general construction activity.

The growth builds on a strong 2025, when OMNI’s revenue rose 14% to $2.19 billion and net profit climbed 34%. When OMNI raised $500 million through its IPO two years ago, it told investors the money would go toward upgrading machinery, expanding capacity, and building working capital, while it worked toward a policy of paying out up to 25% of profits once the business could support it. 

OMNI’s Managing Director, Patrick Kumst, shared that the dividend is the first sign of that promise coming through. “When we listed back in 2024, we told our shareholders that if we did the work, the returns would follow, and this is us following through on that. We had a strong six months, the balance sheet is stronger than it’s ever been, and it felt like the right time to have shareholders share in that growth,” Kumst said.

The company’s balance sheet has strengthened alongside its earnings. Shareholders’ equity grew to $1.212 billion, and retained earnings reached $714.1 million, while the long-term debt-to-equity ratio improved to 28%, down from 33% at the start of the year.

Retaining 80% of earnings

OMNI will retain roughly 80% of its earnings rather than paying out more, a decision tied to its inventory build-up to $941 million as the Company works to keep supply steady for a construction sector that shows little sign of slowing. Kumst said, “Demand is still climbing, and we’ve built up our inventory to be ready for it. So, this dividend is really us saying thank you to our shareholders while keeping our foot on the gas for what’s next.”

Next Tuesday, September 8, 2026, Omni will host its second Annual General Meeting at the Courtleigh Hotel in Kingston at 10:00 a.m., where shareholders will hear more about the Company’s plans to keep growing its production capacity and push further into regional markets across the Caribbean.