dividend

The dividend represents 35 percent of the Authority’s audited net profits of $10,679,925 for the financial year ended 30 June 2022.

A statement said this is the sixth consecutive year SPA has returned dividends to its shareholder; the Government of Samoa and SPA noted having paid a combined total of close to $20 million tala in dividends from 2016/17 to 2021/22 financial years to our Government.

The Dividend declared and approved by the SPA Board represents 35% of the Audited Net Profits for the financial year concluded on 30 June 2021. This is the sixth consecutive year SPA has recorded a profit which has allowed SPA to pay it’s shareholder; the Government of Samoa 35% as stipulated under the Public Bodies Act.

According to the SNPF board, the interest rate is equivalent to the value of $60 million tala.

The board has resolved to pay out 50% of this year’s interest declared in cash as part of its enduring commitment to the wellbeing of SNPF members.

$30 million (4.0%) will be paid in cash to members tomorrow, 1 July 2021 (ends 27th August 2021).

The remaining $30 million (4.0%) will be credited to members’ contribution accounts as well tomorrow, 1 July 2021.

Photo file source SNPF/Facebook