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Vodafone pays out record dividend

 

Jun 25, 2015 12:35:58 PM

Vodafone pays out record dividend Vodafone Fiji has paid out a record dividend of $33m in total to its two major shareholders- the Fiji National Provident Fund (FNPF) and the Algamated Telecom Holdings (ATH) as full and final dividend fund for the last financial year.

This is the single largest dividend payout that Vodafone Fiji has made to its shareholders since the inception of the company 21 years ago.

FNPF is the largest stakeholder of Vodafone Fiji with a direct and indirect control of 79% equity in the company.

FNPF chairman Ajith Kodagoda said this was a great milestone for the country and all Fijians as all profits made by Vodafone Fiji Limited is retained in Fiji and the dividend they received will have a significant impact on FNPF’s income, which is later distributed to FNPF members.

“All Fijians need to understand that that they own 100% of VFL and whatever they spent with the business will come back to them in the form of dividends,” said Mr. Kodagoda.

“Vodafone Fiji has been a star performer in the portfolio of investments held by FNPF delivering impressive returns on FNPF member funds. It has consistently delivered above average returns over the last 20 years. This is a reflection of the strength of the company, its management capability, its strategies and business processes which have remained relevant with time to meet customer expectations in a fast evolving and globally competitive ICT industry.”

“Credit goes to the Board and the Management for the great stewardship and strategic direction to the employees for the passion to deliver such excellent results”.

In July last year, Vodafone Fiji became a 100% locally owned entity after FNPF acquired 49% of Vodafone Group shares in the company.

Since the deregulation of telecommunication market in 2007, Vodafone Fiji remains the market leader, maintaining its premier position by continuously being first to market with new products and services.

By Reginald Chandar
 

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