Two entities pay 10pc dividend to Government

FIJI Ports Corporation Ltd and Fiji Airports were the only two entities that gave the required 10 per cent dividend to Government in 2018.

This, according to the auditor-general’s audit report on the 2017-2018 government’s financial statements tabled in Parliament recently.

“A total of $149.8 million was received by Government as dividends in 2018 from two government commercial companies and two minority owned companies,” stated the OAG report.

“The Government also received a sum of $27.4 million as dividend from Reserve Bank of Fiji and JP Morgan.”

The OAG stated all government commercial companies and commercial statutory authorities paid at least 50 per cent of net earnings to Government as dividends in consultation with the Minister for Public Enterprises, Minister for Economy and relevant minister.

“Fiji Ports Corporation Ltd and Fiji Airports have met the 10 per cent required dividend remittance in accordance with public enterprises corporate governance policy framework.

“Fiji Airports paid Government a total of $90 million dividend in 2018 which also included a $45 million dividend declared for 2017.”