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Fiji Pine brings forward dividend payment

May 13, 2021 4:33 pm

The Fiji Pine Limited Board has approved a dividend payout of six million dollars for this financial year.

In consultation with the Prime Minister, the Board has also restructured both how and when the money is to be allocated.

These changes, with immediate effect, have been put in place to provide relief to families struggling with the economic duress caused by COVID-19.

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The changes for this year’s dividend payout is that 100% of the amount will be distributed to the landowners through TLTB’s equal distribution system.

The six million dollar payout will be divided into three equal payments of two million dollars each.

Under normal circumstances, the dividend announcement is in August, with the Prime Minister officiating in Drasa and speaking directly to the Fiji Pine family about the state of the Industry.

In those years, 70% of the total dividend was allocated towards landowner-based projects – an initiative meant to assist in building out long-term, income-generating investments and providing a sustainable stream of revenue for the landowners.

Fiji Pine says this year, and in particular, the past month has been an exceptionally difficult time for Fijians.

It says landowners who have been working in other sectors, many of which have been halted, need immediate relief, and simply cannot wait until August for their first dividend payout.

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