The Fiji Ports Corporation Ltd (FPCL) had a $17.05 million dividend payout to three of its shareholders for the 2024 financial year.
The dividend payout is a testament to the corporation’s strengthened balance sheet as it continues to implement effective strategies and impactful initiatives.
The Prime Minister and Minister for Public Enterprises, Sitiveni Rabuka, was chief guest at the event last week.
“As a result of FPCL’s resilience, commitment to growth, and forward-thinking strategies, the company marks another significant milestone today. Congratulations on yet another successful financial year,” he said.
“This result not only reflects the resolve and hard work by the board, management and staff of FPCL, but also reflects the company’s ongoing commitment to value creation and prudent financial management.”
Government, which now holds 41 per cent of FPCL shares, received $6.9 million in dividends — an 85 per cent increase from the pre-divestment dividend of $3.7 million received in 2014.
The returns demonstrate the strategic value of the 2015 shareholding partnership, involving the Fiji National Provident Fund and Aitken Spence, which brought in a combined investment of $99.1 million.