Friday 24th May 2019 at the Bank South Pacific (BSP) Annual General Meeting (AGM) in Port Moresby, PNG the BSP Board announced a dividend payout of K1.37 per share for its shareholders. A great news for shareholders as this is an increase from the previous financial year dividend of K1.23.
News & Updates
You can access the latest Solomon Islands National Provident Fund news and media releases below.
The Solomon Islands National Provident Board has purchased its’ 15% shares in Loloata Island Resort Limited on Tuesday 14th May 2018 at the Lamana Hotel, Port Moresby, Papua New Guinea. The SINPF bought its shares for K12 million (approx. SBD$30 million) from funds generated from its’ Bank South Pacific equity investment returns.
In the recent past, your paper had published several commentaries on some of the Fund’s investments. I would like to generally clarify and one in particular by the MMF President on Solomon Telekom Company Ltd (STCL) past dividends declared by the company for its shareholders - the SINPF members’ and Investment Corporation of Solomon Islands (ICSI).
This clarification is to affirm that these dividends were made for our members’ income for those years and are within the rules of the company.
South Pacific Oil Limited held its AGM on Friday 1st March 2019 at NPF Board Room, NPF Building. During the meeting, the AGM declared dividend payment to be paid to SPO lone shareholder SINPF and its members. In a short ceremony in packed room of media representatives and staff of SPO and NPF executive, Mr. Gideon Zoleveke declared “With such good results, on behalf of the Board of South Pacific Oil, it is my pleasure to declare a dividend of $70,000,000 for the 2018 financial year”.
I would like to clarify the recent media coverage on our planned strategic partial sell down of the ex-Cable and Wireless (C&W) 32.58% shares in STCL the SINPF Board bought for $100 million in September 2014. The Board then was given an 18 months period to dispose the 32.58% shares by the regulator.