VB Holdings is debt free for the first time in 20 years

The VB Holdings Limited for the first time in over 20 years is now debt free, having paid off all its loans.

This follows a declaration of a second interim dividend for the period ending October 2018.

In a release on the South Pacific Stock Exchange, the company says its increased final dividend for 2018 is 8 cents per share.

The company states this will provide a total dividend return of 15 cents for the year.

The fleet and property management company recorded an unaudited revenue of $4.7 million for the 10 months of this year.

VB Holdings also recorded a post-tax profit of $0.9m compared to $1.8m for the same period last year until October.