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GEL sweets

Shawn Cumberbatch

GEL sweets

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BARBADIAN CONGLOMERATE Goddard Enterprises Limited (GEL) is raking in the dough and its board of directors is in line for a taste of the financial sweets.

The DAILY NATION confirmed that fresh from earning a $62 million profit and its “highest earnings per share ever” of 83 cents last year, GEL has received shareholder permission to hike the remuneration of its seven non-executive directors from $276 000 to $418 000 annually. It’s the first such increase since January 2009.

And on top of this additional $142 000 in their pockets, the group’s board members will now be able to participate in its Savings Related Employee Share Purchase Scheme. They will be allowed to purchase a maximum of $40 000 in shares annually.

GEL’s managing director Anthony Ali is the lone executive member of the company’s eight-member directorship and does not qualify for the benefits that were given the greenlight at its 77th annual meeting. This meeting was held at the Errol Barrow Centre for Creative Imagination on January 29.

Please read the full story in today’s Daily Nation, or in the eNATION edition.