S.N.P.F. declares 9.1 percent dividend
Christmas has come early for contributors and members of the Samoa National Provident Fund (S.N.P.F.) with the Fund declaring a dividend of 9.1. percent for the financial year ending 30 June, 2019.
This was confirmed in a statement issued by the Fund on Friday.
The dividend is in accordance with Section 36 of the S.N.P.F. Act 1972, which allows the Minister of Finance, Sili Epa Tuioti, and the board and management of the Fund to declare the payment of dividend.
“The payment this year of another $54 million tala to members is testament to the continued commitment of the Board, Management and Staff of the S.N.P.F. in the enduring endeavour to place our members’ interests first and yield high returns for our people,” said a statement from the Fund.
It stated the contribution balance as at 1 July 2018 determined the calculation of dividend declared given that no withdrawals or offsets were made within this financial year.
“Payment of dividend will be processed to members’ contribution accounts and will be accessible to members for normal entitlement lending from Monday 1st July 2019.”
The Fund hopes to build on its performance through reaping the benefits from new high yield investments and thereby consolidating its reputation of robust returns for all members in the next financial year, said the statement.