Nikhil Aiyush Kumar 
[Supplied]
Fiji Hardwood Corporation Limited has declared its first-ever dividend of $500,000, marking a historic turning point for the state-owned enterprise.
The announcement was made following the Corporation’s Annual General Meeting, its first in decades.
This milestone reflects a successful shift in strategic direction and a return to financial health.
The dividend is backed by a strong performance in the 2021 financial year, where FHCL recorded a $3.302 million profit before tax.
Under the leadership of CEO Semi Dranibaka, the company successfully cleared approximately $8 million in legacy debts that had remained on the books for over 20 years.
This massive “clean-up” of the balance sheet has transitioned the company from insolvency to consistent profitability.
Minister for Public Enterprises, Charan Jeath Singh, commended the payout as evidence of sound management and real economic progress.
He emphasized that maintaining good governance and transparency with landowners and stakeholders is essential for FHCL to secure new business opportunities and remain sustainable.
To ensure continued efficiency, FHCL has invested in modernization across its 75,000 hectares of mahogany plantations.
A recent partnership with a U.S.-based firm has equipped the company’s inventory teams with advanced data-capture technology, improving accuracy in even the most challenging forestry environments.
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