The Fiji Pine Group of Companies (FPG) has addressed recent social media claims alleging that it has delayed dividend payments to landowners. The state-owned entity, which includes Fiji Pine Ltd, Tropik Wood Industries Ltd, and Tropik Wood Products Ltd, clarified the situation after a Facebook post by Australian digital creator Suliasi Daunitutu, purporting to represent Bua landowners, claimed that lease rental payments were not being made to a specific mataqali in the region.
Fiji Pine Ltd emphasized that all land rental payments to landowning units are current and urged that the information circulating about dividend distribution is incorrect. The company confirmed that, while a dividend payout for the financial year 2024 has indeed been declared, it is not responsible for the direct distribution of these dividends to individual landowning units.
The announcement stated, “Fiji Pine Ltd is a commercial company whose primary goal is to operate profitably while providing a good return on investment to its shareholders through the Fiji Pine Trust.” The Trust is responsible for receiving dividends from Fiji Pine Ltd and subsequently distributing them to the landowners.
Landowning units were encouraged to contact their representatives at the Fiji Pine Trust for detailed information regarding their dividend payments. The Trust has been actively engaging with beneficiaries to ensure clear communication and address any issues regarding the distribution process.
Recently, Fiji Pine Ltd made a historic move by transferring a $5 million dividend payment to the Fiji Pine Trust. This change marks a new method of managing benefits, emphasizing transparency and equitable distribution among all landowning groups. Ratu Rakuita Vakalalabure, executive chairman of Fiji Pine, noted that dividends are now being sent directly to the Fiji Pine Trust rather than to individual landowners, with plans in place for consultation with beneficiaries to establish an effective distribution system.
This new approach not only aims to enhance the management and distribution of dividends but also supports communal growth and ensures that the benefits provided by Fiji Pine’s successful operations reach all stakeholders effectively.
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