BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
NON-CONSOLIDATED ANNUAL REPORT 2016
39
BARBADOS PUBLIC WORKERS' CO-OPERATIVE CREDIT UNION LIMITED
Notes to the Non-consolidated Financial Statements
For the year ended March 31, 2016
(Expressed in Barbados dollars)
23
10. Financial Investments
The amount comprises:
2016
2015
Held-to-maturity
Government securities
$ 28,061,741
25,109,000
Interest receivable
1,012,442
729,462
$
29,074,183 25,838,462
The average effective yield during the year on held-to-maturity investments was 6.28% (2015 - 6.15%).
2016
2015
Available-for-sale
Equities - quoted (i)
$
1,525,000
1,205,000
Equities - unquoted
754,438
682,522
$ 2,279,438
1,887,522
(i)
This represents the Credit Union’s investment in 500,000 (2015 - 500,000) common shares. As at
March 31, 2016, the quoted bid price of these common shares was $3.05 (2015 - $2.41) per share.
