Samoa Port Authority gives record dividend

14 February 2019, 12:00AM

Samoa Ports Authority (SPA) has presented a record dividend of $3.4 million to the Government.

Samoa Ports Authority chairman, Tuiloma Neroni Slade, gave a $3,492,691 dividend cheque to Prime Minister Tuilaepa Dr. Sa'ilele Malielegaoi yesterday with the SPA board of directors looking on.

Tuiloma presented the cheque on behalf of Minister Papali'i Niko Lee Hang, the board and the management and staff. The dividend represents 50 per cent of the Authority’s net profits for the Financial Year ended June 30, 2017.

SPA general manager, So’oalo Kuresa So’oalo, said they were pleased with the board’s decision to approve the dividend payment.

"We are very pleased with the board's decision to approve these cash dividend payments, and proud to share the authority’s financial success with SPA’s shareholders, the Government of Samoa. 

“SPA’s improved operating and financial performance and strong balance sheet have provided the opportunity to pay the highest dividend since its inception in 1999. 

“This action demonstrates the board and management’s confidence in Samoa Ports Authority's growth opportunities, and reinforces SPA’s commitment to create value and maximize returns for the shareholders and strongly support its statement of being the gateway for prosperity,” he said.

14 February 2019, 12:00AM

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