Unit Trust of Fiji (UTOF) has paid out $4.9 million in dividend to its 42,031 Investment Growth Fund (IGF) account holders at 3.50 cents per unit.
UTOF has attributed this to its diversified investment portfolio across multiple asset classes, which have yield substantial returns.
In a media conference, UTOF Chairperson Lavinia Kaumaitotoya said UTOF holds ownership stakes in 18 listed and unlisted companies, which declare dividends to the fund, which is the main source of contributors to its dividend distribution to investors.
Kaumaitotoya said the highest dividend income contributors for the year are HFC Bank, Fiji Gas, ATH Group, Vision Group and RB Patel Group.
“Comparatively, in 2022, our dividend rate for IGF was 6.60 cents per unit, with the total pay-out amount of $7.6 million.”
“The 7 cents per unit for 2023 places UTOF in line with our dividend rate for the financial year 2018, prior to the pandemic. The $4.9 million pay out today now adds to the total of $60.8 million tax-free dividends that have been paid out to our IGF investors for the last 10 years,” Kaumaitotoya said.
She has underpinned the significant contribution UTOF has provided to the Fijian economy and importantly giving back to the Fijian people, minors less than 18 years to family accounts, Mataqali, Yavusa, Tikina, provincial councils, associations, institutions to corporates.
Kaumaitototya added that its investors represent a broader spectrum of our diverse communities and deeply rooted into our society, from institutions to the vanua and importantly to the family.
The Investment Growth Fund continues to serve the investment needs of all Fijians since its inception in 1978.
