The Cayman Islands Stock Exchange exceeded its targets for revenue, net income, cash at year end, and several other metrics during the period between July 1, 2016 and Dec. 31, 2017, according to its latest annual report.
The stock exchange’s $3,083,106 in revenue slightly exceeded its goal for that period, as well as the $1,941,948 in revenue it earned for the 12-month period in 2015/16, the report states.
Similarly, the exchange’s $948,841 in net income exceeded its target of $866,093 for the 18-month period, and its $2,738,955 in cash at year end was about $400,000 more than projected.
The stock exchange also had slightly less expenses during the period, with its $2,134,265 in operating expenses being about $50,000 less than projected.
The Cayman Islands Stock Exchange has grown to have more than 4,600 listed securities with a total value of about $241.4 billion as of the end of last year.
The number of financial instruments listed grew by about 30 percent compared to 2015/16, according to the report.
The stock exchange’s performance led to its council resolving last month to pay government a $1 million special dividend for the benefit of the Government Treasury.
Since becoming profitable a decade ago, the Cayman Islands Stock Exchange has paid an annual dividend of 75 percent of its net income to its sole shareholder, the Cayman Islands government.
In September 2016, the stock exchange declared a dividend of US$449,949 for its prior financial year.
During the previous financial period, the stock exchange also saw the appointment of a new CEO, with former finance minister Marco Archer taking the helm last October.
Mr. Archer replaced Valia Theodoraki, who moved to the United Kingdom to serve as the Cayman Islands Stock Exchange’s vice president of marketing.
Via: Cayman Compass