RB Patel Group (RBG) last week announced a final dividend of 3.5cents a share translating to a total dollar value of $5.25million, to be paid out by October 1, 2024.
This, the company stated in its filings with the South Pacific Stock Exchange (SPX), brought total dividends paid for the financial year ended June 30, 2024, to 5.5cents a share or $8.25m.
RBG chairperson Kamal Haer, said the 5.5 cents a share dividend is the highest paid since the company listed in 2001, except for last year’s record seven cents a share, a COVID-related anomaly.
“It should also be highlighted that the company has recently acquired a number of vacant properties for future developments which will also require funding.
“Considering the global and domestic market conditions, the large number of Fijians that have migrated and the competitive nature of the industry, the company’s results are commendable,” Ms Haer said.
“The supermarket industry continues to get more and more competitive with new stores and players entering the industry each year.”
Share price for RBG on SPX was $3 a share when this edition went to press.
