The Unit Trust of Fiji (UTOF) has announced its successful dividend payout of $7.1 million for the past financial year, reinforcing its appeal among investors, particularly employers. This significant amount was distributed among approximately 60,000 account holders, which notably includes young investors under the age of 18.

Chairperson Lavinia Kaumaitotoya disclosed that a dividend rate of 3.75 cents per unit was declared and paid out, translating to around $6.4 million in tax-free dividends. This represented an increase from the 3.50 cents per unit rate offered in the previous year, with the total dividend rates rising to 7.50 cents per unit in 2024, compared to 7.00 cents per unit in 2023.

Additionally, UTOF has declared an annualized dividend of three percent for the Income Fund, amounting to over $560,000. This rate marks a rise from the 2.75 percent declared for the same period in 2023, showcasing the organization’s commitment to providing valuable returns to its investors.

UTOF has also reported an impressive growth in its total funds under management, which now stands at $521 million, exceeding its target by 114.46% over a mere eight months. This remarkable performance can be attributed to prudent investments and strong returns from its investee companies, highlighting the effectiveness of UTOF’s investment strategy in fostering investor confidence.

Looking forward, Kaumaitotoya expressed UTOF’s dedication to maintaining high standards and enhancing investor confidence, emphasizing ongoing engagement and transparency as essential elements in securing the trust of their investors. The UTOF team, in partnership with various invested companies such as HFC Bank and Fiji Gas, aims to continue its positive trajectory and build upon its impressive accomplishments in the financial landscape.

In summary, UTOF’s recent dividend distribution and significant fund growth reflect a robust investment strategy that not only benefits current investors but also encourages financial literacy and investment among younger generations, paving the way for a more financially stable future in Fiji.