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BF&M shares fall 5.7%

Shares of Butterfield Bank improved by 25 cents, or 1 per cent, to $25.25 after 500 traded on The Royal Gazette/BSX Index.

In New York, the bank's shares were down 96 cents, or 3.74 per cent, at $24.72.

On the local exchange, shares of BF&M Ltd were down $1, or 5.7 per cent, at $16.50 after 2,500 changed hands, while there was also trading in 50,000 shares of One Communications Ltd, but with no change to the closing price of $3.80.

The Royal Gazette/BSX Index was up 3.59 points, or 0.2 per cent, at 1,829.81, while the BSX Insurance Index was up 38.59 points, or 2.81 per cent, at 1,411.39.

Meanwhile, in a filing with the BSX, Polaris Holding Company Ltd said its directors had unanimously resolved to defer payment of a eight cents per share dividend to shareholders of record as at June 25.

The company noted “falling cargo projections for fiscal 2021 and pending negotiations with its unionised staff for change within its bedrock operating Company (Stevedoring Services Limited)”, and said the board took the view that an immediate deferral of the dividend set the right tone for “the unknown but anticipated impact of Covid-19 during this fiscal year”.

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Published June 17, 2020 at 8:02 pm (Updated June 17, 2020 at 8:02 pm)

BF&M shares fall 5.7%

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