Samoa Ports Authority Presents $3.9 Million Dividend to Government

The $3.9M tala dividend represents 35% of Audited Net Profits totalling  $11,404,138 for the financial year ending 30 June 2023.

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Via Jasmine Netzler-Iose, Government Press. This is the 7th consecutive year the Samoa Ports Authority has achieved a nett profit allowing a dividend of $3,991,448 to be paid to its shareholding Government Ministers, to receive on behalf of the People of Samoa.

SPA boasts a total dividend payout of $23,611,352 million tala since 2017 in line with the Public Bodies Act where State Owned Enterprises are required to pay the Government a dividend of 35% from its audited net profits for each financial year.

The $3.9M tala dividend represents 35% of Audited Net Profits totalling  $11,404,138 for the financial year ending 30 June 2023.

The cheque was presented to the Minister of Public Enterprises Leatinuu Faumuina Wayne So’oalo by the Minister of Works, Transport and Infrastructure Olo Afoa Fiti Vaai on behalf of the Chairman, Board of Directors and staff of Samoa Ports Authority.

“As a state owned entity (SOE), the Authority is proud of its improved financial situation allowing it to honour its statutory responsibilities such as paying dividend to assist the Government with its many developments,” said General Manager So’oalo Falelima Kuresa So’oalo.

The authority extends its appreciation for the support of the Government of Samoa, business partners, port users, stakeholders, the Board of Directors, Management and especially, the hard working staff and their families ‘the driving force behind the positive results’.

The Samoa Ports Authority commenced operations on 1st July 1999 and was established to operate as a self-funding, commercial viable organisation obligated to execute safe ports and maritime operations with the effective and efficient delivery of their services.

SPA aims to be the best provider of efficient port services by developing and maintaining Samoa’s port infrastructure in line with economic and social requirements, providing safe, secure, efficient, reliable and profitable port services that meets international port standards.

Photo Credit: Samoa Ports Authority

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