On September 2, RB Patel Group Limited announced a Final Dividend of 3.5 cents per share, totaling $5.25 million, set to be distributed by October 1.
This dividend will raise the overall dividends for the financial year to 5.5 cents per share, equating to $8.25 million.
The company’s audited financial statements for the year ending June 30 show an 8.4% increase in revenues, reaching $184 million, along with a 16% rise in profit from operations to $18.2 million. Furthermore, net profit after tax surged by 62.2% to $12.5 million, despite heightened tax rates.
Chairperson Kamal Haer emphasized that this dividend represents the highest amount since the company’s listing, aside from last year’s exceptional dividend, and mentioned the company’s recent property acquisitions aimed at future developments.
She also recognized the competitive landscape of the supermarket sector and the beneficial effects of tourism on Fiji’s economic recovery, all while voicing concerns about global economic disruptions and climate-related natural disasters.
The dividend is contingent upon necessary approvals and adheres to relevant regulations.