EFL Declares Dividend Payment to Non-voting Shareholders

Energy Fiji Limited (EFL) is pleased to inform that the company has declared a dividend payout of $956,000 to the non-voting EFL shareholders for the financial period ending 31st December 2019.

Of the 37,053 non-voting EFL shareholders who are entitled to this dividend payment, 16,940 subsidised customers hold 4,235,000 shares amounting to $161,946 in dividends and 20,113 non-subsidised customers hold 3,016,950 shares amounting to $115,368 in dividends.

The remaining dividend payout will be held in trust by Central Share Registry Pte Limited (CSRL) for future shareholders.

The dividend will be paid to shareholders through their nominated modes by CSRL which undertakes registry services for EFL shareholders on behalf of the company. In aggregate, the total number of non-voting EFL shareholders who are entitled to this dividend payment is 37,053 shareholders who are holding a total of 7,251,950 shares. Based on the dividend per share of $0.03824, this totals to dividend payout of $277,315.

Additionally, for those EFL customers who are yet to apply for the free offer of non-voting shares, CSRL is holding the dividends in trust for these EFL beneficiaries until such time that these customers apply for the shares and become non-voting shareholders of the company. The total number of shares held by CSRL as trustee for EFL beneficiaries currently stands at 17,748,050 shares with the total dividends held in trust being $678,685. Commenting on the dividend announcement, EFL chief executive officer, Hasmukh Patel said: “This is the second dividend declared by the company after the corporatisation process which was initiated in April 2018. “This means that all the EFL customers who have successfully applied for the free offer of non-voting shares by the Fijian Government would be entitled to this dividend payment.”

CSRL Acting chief executive officer, Pretesh Prasad said: “CSRL would be managing the EFL dividend payment for all non-voting shareholders.

“Which means that over the next few days, EFL shareholders should expect to receive their dividends either into their nominated bank accounts or as a credit in their next electricity bill depending on the option that was selected by the non-voting shareholder during the application process for the shares.

“Shareholders owning 150 shares are entitled to receive $5.74 in dividends while shareholders owning 250 shares are entitled to receive $9.56 in dividends.” Attorney-General and Minister for Economy, Aiyaz Sayed-Khaiyum said: “I want to congratulate the EFL Board, management and staff –– including our line workers who put in countless hours of overtime through our response to Cyclone Harold –– for their hard work which has delivered this dividend payout to EFL’s nonvoting shareholders.

“Additionally, shareholders will benefit from any capital appreciation once the non-voting shares is listed on the South Pacific Stock Exchange (SPX).

“Year after year, our shareholders will see these payouts add up as they steadily share in EFL’s growing success. “I encourage customers who are yet to apply to take advantage of our free offer to become EFL shareholders, so they can share in future dividend payouts.”

EFL shareholders who have queries related to the dividend payments should immediately contact the CSRL office.