BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2015
34
BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Non-consolidated Financial Statements
For the year ended March 31, 2015
(Expressed in Barbados dollars)
22
8. Distributions to Members
Distributions to members include a dividend of $0.231 (2014 - $0.233) per share amounting to $393,544
(2014 - $372,400) and interest rebate amounting to $1,564,953 (2014 - $1,516,008).
9. Cash Resources
2015
2014
Cash on hand
$
6,627,130
5,295,019
Cash at bank
28,788,744
43,983,032
Short term deposits
9,524,610 3,815,319
Total cash and cash equivalents
44,940,484
53,093,370
Other term deposits
48,832,238 56,135,132
Total cash resources
$ 93,772,722 109,228,502
The average effective yield on cash resources during the year was 0.18% (2014 - 0.20%).
10. Financial Investments
The amount comprises:
2015
2014
Held-to-maturity
Government securities
$ 25,109,000
20,109,000
Interest receivable
729,462
286,633
$ 25,838,462 20,395,633
The average effective yield during the year on held-to-maturity investments was 6.15% (2014 - 6.03%).
2015
2014
Available-for-sale
Equities - quoted (i)
$
1,205,000
1,290,000
Equities - unquoted
682,522
664,348
$ 1,887,522
1,954,348
(i) This represents the Credit Unionʼs investment in 500,000 (2014 - 500,000) common shares. As at
March 31, 2015, the quoted bid price of these common shares was $2.41 (2014 - $2.58) per share.
