St. Kitts Nevis Anguilla Trading and Development Company Ltd.

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What it is

TDC is the parent of a cluster of diversified companies; incorporated on January 8, 1973, it absorbed the trading assets of J.W. Thurston and Company Limited and H.

F. Wildy and Company Limited — colonial-era merchants whose combined history stretched back more than 150 years.

Today the group spans general trading, vehicle sales, auto and equipment rental, hire-purchase financing, insurance, consumer and mortgage financing, real estate development, and shipping services. It boasts the largest shopping facility within the Organisation of Eastern Caribbean States (OECS), the TDC Home and Building Depot.

Who owns it

TDC listed on the Eastern Caribbean Securities Exchange in June 2003 to give added value to its shareholders. The group’s corporate structure currently includes approximately 2,170 shareholders and a board made up of five Executive Directors and six Non-Executive Directors.

No single disclosed controlling block appears in available public filings; ownership is spread across roughly 2,170 shareholders. The company has always traded profitably and has paid a dividend every year, with a consistent focus on generating good returns for shareholders.

Who runs it

The 51st Annual General Meeting was chaired by Mr. Earle Kelly, who serves as both Chairman and CEO, supported by the full board. Kelly is the most senior executive on record in all public filings.

A separate CFO is not disclosed in available sources.

The 52nd Annual General Meeting was held on November 5, 2025, at the Saba Ballroom, St. Kitts Marriott Resort.

The financial statements for the year ended March 31, 2025, were approved for issue by the Board of Directors on October 17, 2025.

The money, in plain words

In the year ended March 31, 2025 — its first clean 12-month period after shifting its financial year-end — TDC took in XCD 127.3M (~US$127.3M) in sales and kept XCD 14.7M (~US$14.7M) as net profit: a net margin of 11.5% (our calculation), solid for a general-trading group that also carries insurance and lending books.

The group changed its financial year-end from January 31 to March 31 effective in 2024, so the prior period covered fourteen months; the two periods are not directly comparable. On a like-for-like 12-month basis, the story is healthy: operating profit of XCD 19.0 (US$19)M on revenues of XCD 127.3 (US$127)M.

Total assets stand at XCD 521.4M (~US$521.4M), roughly eight times the company’s market value of XCD 67.6 (US$68)M — reflecting the large loan and deposit book of its financial-services arm. Return on equity is 6.6% (our calculation), modest but consistent with a conglomerate that anchors capital in property, lending, and inventory.

At the current share price of XCD 1.30, (US$1)the stock trades at about 4.9 times earnings (our calculation) — a price-to-earnings ratio that looks inexpensive by most market standards. The dividend yield of roughly 6.2% (our calculation, XCD 0.08 (US$0.08)per share paid in FY2025) offers shareholders steady income; the dividend payout ratio has historically averaged 6% and is paid annually.

What it is doing now

Following the year-end transition, the group’s financial year now runs April 1 to March 31, giving management a cleaner annual reporting cycle aligned with the regional calendar. The FY2025 result included a XCD 9.8 (US$10)M revaluation surplus on property, net of tax, boosting total shareholders’ equity to XCD 227.3M (~US$227.3M).

TDC Insurance, a fully owned subsidiary, holds an A- (Excellent) financial-strength rating from A.M. Best — a rare external credit benchmark for a small-island group, and a competitive edge in the regional insurance market.

What to watch

• Loan book growth: Customer loans grew from XCD 151 (US$151)M to XCD 175 (US$175)M in one year (our calculation from balance sheet); rapid loan growth in a small economy warrants watching for credit quality.
• Discontinued operations: The group recorded a loss of XCD 605,260 (US$605 k)from discontinued operations in FY2025; which unit is being wound down is not yet disclosed in public filings.
• Liquidity: Customer deposits of XCD 179M (~US$179M) now fund most of the balance sheet; any stress on the islands’ economy flows quickly into this book.
• Succession and governance: With one person holding both Chairman and CEO roles, any change in Earle Kelly’s tenure would be a material event for a company of this size and complexity.

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This is news, not investment advice.