S.P.A. pays over $2.5 million dividend

The Samoa Ports Authority (S.P.A.) has presented the Government with a $2.6 million dividend payment. 

The payment, approved by the S.P.A. Board, accounts for 35 per cent of the authority’s $7,598,563 audited profits for the fiscal year concluding on 30th June 2020. 

In a statement, S.P.A. said it had recorded its fifth consecutive year of profit.

As a public enterprise, the S.P.A. and other state-owned enterprises are obliged to contribute 

“The S.P.A. noted having paid a combined total of more than $13 million tala in dividends from 2016 to 2020 to our Government,” the authority’s report stated.  

S.P.A. said it had further assisted the public, business partners and users of the port as part of the Government’s economic stimulus package to the value of $500,000.

“As a state-owned enterprise, S.P.A. is proud of its sound financial performance and being able to honour its statutory responsibilities such as paying dividend to assist our Government with [its] many developments which have and are reaping immense benefits for our country. 

“Moreover, irrespective of the impacts of COVID-19 and measles on market conditions during the financial year, S.P.A. still managed to record a profit of which all glory should be returned to the Omnipotent, acknowledgment to S.P.A.’s shareholders, its business partners and port users and all stakeholders, the Board of Directors, management and most importantly, the hard-working staff.”

According to the S.P.A.’s latest annual report in 2019, the Authority also paid off an $18 million term debt to the Unit Trust of Samoa.

The Chairman of the S.P.A, Tuiloma Neroni Slade, commended the organisation’s C.E.O., Sooalo Kuresa, as well as executive managers and staff for their collective corporate discipline.

 



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