On September 2, RB Patel Group Limited declared a Final Dividend of 3.5 cents per share, totaling $5,250,000, which will be distributed by October 1.
This announcement brings the total dividends for the financial year to 5.5 cents per share, equating to $8.25 million.
The company’s audited financial results for the year ending June 30 indicate an 8.4% increase in revenues, reaching $184 million, a 16% rise in profit from operations to $18.2 million, and a significant 62.2% increase in net profit after tax, totaling $12.5 million, despite an uptick in tax rates.
Kamal Haer, the Chairperson of the company, emphasized that this dividend is the highest since the company’s listing, excluding last year’s exceptional dividend, and noted the firm’s recent property acquisitions aimed at future development.
She also pointed out the competitive landscape of the supermarket sector and the favorable influence of tourism on Fiji’s economic resurgence, while expressing apprehensions about global economic challenges and the impact of climate-related natural disasters.
The dividend is subject to the required approvals and adheres to the relevant regulations.