The South Pacific Stock Exchange (SPX) achieved a historic milestone in 2024, with its 16 listed entities distributing an unprecedented total of $76 million in dividends. This landmark payout marks the highest annual dividend distribution in the market’s history and pushes the overall dividends paid by SPX-listed companies since the year 2000 past the FJD 1 billion mark.
In 2024, the Fijian stock market also celebrated its first equity listing since 2019, welcoming SUN Insurance Company Limited (SUN) to the exchange. The Initial Public Offering (IPO) received an enthusiastic response from investors, illustrating a significant appetite for new listings and highlighting the market’s vitality.
The continued innovation from SPX-listed entities, including the introduction of dividend reinvestment plans, showcased the growing confidence of shareholders in the future of these companies. SPX Chief Executive Sheraj Obeyesekere emphasized that the strong performance of the market reflects promising prospects ahead for investors, showcasing dual returns from both share price increases and record dividends.
Obeyesekere commended the commitment of listed firms to rewarding their shareholders, reinforcing the appeal of investing in the Fijian stock market. While trading activity remains modest in Fiji compared to more vibrant exchanges, the signs of increased interest from investors signal a positive shift in market dynamics.
Looking to the future, the SPX is focused on raising public awareness of investment opportunities and making the stock market more accessible to all Fijians. Obeyesekere expressed optimism for continued growth in 2025 and invited more Fijian companies to consider listing, indicating that investors are ready to support businesses with strong investment cases.
This uplifting trend in the Fijian stock market not only reinforces investor trust but also heralds an era of potential growth and opportunities, encouraging broader participation and investment in the economy.
Summary: The South Pacific Stock Exchange recorded a remarkable dividend payout of $76 million in 2024, alongside welcoming its first equity listing in years. This shows a thriving market, with increased investor interest, innovative dividend plans, and a positive outlook for future growth and accessibility for Fijians.
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