Fiji Holdings Limited is paying out an interim dividend of $2.5 million to its 1,700 shareholders.
In a statement, FHL says the interim dividend is in line with the dividend policy and based on the Company’s performance as of March 31.
FHL Group Chair, Col Sakiusa Raivoce said that the results for the first nine months is promising and is on the back of strong performance in the tourism sector followed by the Group’s core investments in retail and the financing sector.
Raivoce said the key turnaround is in the cash-flow of the business, directly related to the profitability of the performing investments.
He said the Holdings Company has started to see cash payments of dividends from subsidiary companies and is achieving its budgeted dividend revenue for the financial year to date.
“FHL at its previous dividend announcement estimated dividend pay-out at $0.005, however, will be declaring $0.008 based on net cash flow generated for the period.”
He said FHL Group’s forecast for the financial year-end remains optimistic with tourism, retail and financing sector reporting solid performance three months away from the end of the financial year.
In accordance with the SPX listing rules on dividend declaration and payments, FHL Shareholder’s registry closed yesterday and shareholders will be paid today.