UTOF announces dividend pay out

April 4, 2024 12:39 pm

The Unit Trust of Fiji has announced a total tax-free dividend pay out of $10.78 million to its investors for last year.

Out of the total dividend payout, $9.64 million was paid to Income Growth Fund investors while the Income Fund investors were paid $1.14 million.

Unit Trust of Fiji Chair Lavinia Kaumaitotoya made the announcement this morning as part of their 2023 audited financial performance.

Article continues after advertisement

The dividend pay out rate for the income and growth fund was 3.50 per unit while the annual dividend rate for the income fund was at 2.75 percent.

Kaumaitotoya says that for 2023 total funds under management stood at close to $431 million.

She highlights that this is a significant milestone as they are slowly closing on the half billion-dollar mark.

“Our funds Under Management has had an interesting journey for the last three years, collectively recording a growth of more than $150 million for the period 2021 to 2023. We have gained a deeper understanding of our market dynamics and built resilience and adaptive measures for the future development and growth of the fund and our investment peripheries.”

Kaumaitotoya also acknowledged the support of their stakeholders including the Reserve Bank of Fiji and the Ministry of Finance.

The chair also states that they believe in the finance empowerment which can motivate families in poverty.