Fijian Holdings Limited (FHL) has declared an interim dividend of $4.1 million, showing the company’s strong cash generation despite some overall weakness in group performance. Chairman Rokoseru Nabalarua announced that this dividend reflects the company’s financial results up to September 30, 2024.
Nabalarua expressed optimism about FHL’s first-quarter performance, emphasizing that the company met its projected dividend revenue due to robust performances, notably in tourism, retail, and finance sectors. However, he also mentioned that the group’s forecast for the financial year ending June 30, 2025, remains challenging due to potential slowdowns in emerging markets, geopolitical tensions, and market volatility.
The group’s recent performance has indicated subdued results from significant subsidiaries in the retail and financial services industry, as well as a disappointing return from other investments in construction and media.
In line with the South Pacific Stock Exchange (SPX) regulations, FHL’s shareholders registry will close on October 23, 2024, with dividends scheduled for distribution on October 31, 2024. The company plans to hold its annual general meeting in Lami on the same day, a crucial event to discuss future strategies and performance.
This dividend announcement is a positive indicator of FHL’s financial health, highlighting its ability to generate cash flow even in challenging circumstances. It provides a hopeful outlook that the company can navigate through adversity and continue to return value to its shareholders.
Overall, FHL’s proactive measures to address challenges and enhance investment strategies could pave the way for future growth, benefiting its stakeholders and contributing positively to the broader Fijian economy.
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