TransJamaican Highway Limited (TJH) has commenced the partial redemption of its cumulative redeemable preference shares as part of its strategic growth initiatives. The company recently redeemed 5% of the principal amount of its 2.7 billion preference shares, equivalent to 135 million shares or US$1.35 million, based on a US$0.01 par value. This redemption, executed on July 14, coincided with the quarterly dividend payment. TJH’s preference shares offer an 8.0% dividend yield. The Jamaica Central Securities Depository (JCSD) facilitated the redemption process, ensuring pro-rata distribution among shareholders. Despite receiving a query, TJH reported no objections to the transaction. The company has since aligned its redemption schedule with the original terms, adjusting the maximum optional redemption amount to 15% by January 30, 2026, with quarterly redemptions tied to dividend payments. TJH initially issued these preference shares in January 2020, raising US$27 million. The shares, listed at $1.41 in September 2020, are set to mature by January 2028. TJH retains the right to redeem up to 20% of the shares after the sixth anniversary of issuance. The company’s Q2 2024 report highlighted a carrying value of US$23.88 million for the preference shares, with US$22.26 million classified as non-current. Early redemptions free up cash for ordinary shareholders, with TJH announcing a $0.1292 dividend totaling $1.62 billion, payable on October 24. This marks a 35% increase from 2024, reflecting TJH’s robust financial performance. Additionally, TJH updated its dividend payment structure to accommodate USD shareholders. The company is set to launch Phase 1C of Highway 2000 East-West in October, projected to generate US$9.5 million in revenue. TJH’s 2024 revenue reached US$82.82 million, driven by increased toll volumes, with net profit rising 28% to US$17.78 million. The company also adjusted toll rates and streamlined T-Tag acquisition processes, enhancing customer convenience. TJH’s asset base stood at US$295.44 million, with total equity closing at US$72.99 million. Despite a 13% decline in JMD share price, TJH remains focused on its expansion and operational efficiency.