On September 2, RB Patel Group Limited declared a Final Dividend of 3.5 cents per share, amounting to $5.25 million, set to be distributed by October 1.
This announcement brings the total dividends for the financial year to 5.5 cents per share, which totals $8.25 million.
The company’s audited financial statements for the year ending June 30 showed an 8.4% rise in revenues to $184 million, with a 16% increase in profit from operations to $18.2 million, and a substantial 62.2% surge in net profit after tax to $12.5 million, despite facing higher tax rates.
Chairperson Kamal Haer noted that this dividend is the highest since the company’s listing, excluding the exceptional dividend from last year, and mentioned recent property acquisitions aimed at future developments.
She also pointed out the challenges within the competitive supermarket sector and the positive influence of tourism on Fiji’s economic recovery, while voicing concerns regarding global economic disruptions and climate-related natural disasters.
The dividend is subject to the necessary approvals and adheres to relevant regulations.