Fijian Holdings Limited announced yesterday that it will distribute an interim dividend amounting to $4.113 million, consistent with its dividend policy and reflective of the company’s performance up to September 30, 2024.
Rokoseru Nabalarua, chairman of the FHL Group, reported that the financial results for the first quarter were promising, with FHL meeting its projected dividend revenue thanks to robust performances in its tourism, retail, and finance investments.
The company projected that its financial outlook for the fiscal year ending June 2025 will remain steady, while also recognizing potential challenges such as slowdowns in emerging markets, geopolitical tensions, and market fluctuations. FHL indicated that it will continue to focus on optimizing its investments, addressing crucial issues within its subsidiaries, particularly in cybersecurity, and ensuring that its portfolio remains resilient and future-oriented.
FHL’s ownership includes a range of well-established companies such as Merchant Finance, RB Patel, Standard Concrete, and Fiji Television Ltd. Last month, the group reported its financial results for the fiscal year ending June 30, 2024, revealing a net profit before tax of $70.14 million, marking an 11 percent increase from $63.22 million during the previous year. The profits were largely driven by strong performances from key subsidiaries, including South Sea Cruises, RB Patel, and Merchant Finance.
According to the listing rules of the South Pacific Stock Exchange (SPX) regarding dividend declarations and payments, the FHL shareholders registry will close on October 23, 2024, with dividend payments scheduled for October 31. The company intends to hold its annual general meeting in Lami on the same day. FHL shares were last traded at 97 cents each on the SPX.