On September 2, RB Patel Group Limited declared a final dividend of 3.5 cents per share, amounting to a total of $5,250,000, which is set to be paid by October 1.
This dividend announcement brings the total for the financial year to 5.5 cents per share, translating to $8.25 million in total dividends.
The company’s audited financial results for the year ending June 30 showed an 8.4% growth in revenues, reaching $184 million. Additionally, profit from operations rose by 16% to $18.2 million, while net profit after tax increased by a significant 62.2% to $12.5 million, despite facing higher tax rates.
Kamal Haer, Chairperson of the company, pointed out that this dividend marks the highest amount since the company’s listing, excluding last year’s exceptional dividend. She also mentioned recent property acquisitions aimed at future developments.
Haer further noted the challenging nature of the supermarket industry and the beneficial effects of tourism on Fiji’s economic revival, while also expressing concerns about global economic instability and climate-related natural disasters.
The dividend is pending necessary approvals and adheres to relevant regulations.