On September 2, RB Patel Group Limited announced a final dividend of 3.5 cents per share, totaling $5,250,000, which is set to be paid by October 1.
This latest announcement raises the total dividends for the financial year to 5.5 cents per share, amounting to $8.25 million.
The company’s audited financial statements for the year ending June 30 show an 8.4% increase in revenues to $184 million, a 16% rise in profit from operations to $18.2 million, and a significant 62.2% increase in net profit after tax to $12.5 million, despite facing higher tax rates.
Kamal Haer, the company chairperson, emphasized that this dividend marks the highest amount since the company’s listing, excluding last year’s exceptional dividend, and she noted recent property acquisitions aimed at future developments.
Haer also addressed the competitive nature of the supermarket industry, highlighting the positive influence of tourism on Fiji’s economic recovery, while expressing concerns regarding global economic disruptions and climate-related natural disasters.
The dividend will be subject to the necessary approvals and will comply with relevant regulations.