Telecom

Vodafone pays out $33m dividend to shareholders

Vodafone Fiji today handed over a dividend payout of $33 million to two of its shareholders Amalgamated Telecomm Holdings (ATH) and the Fiji National Provident Fund (FNPF). Speaking at the handover, this morning Vodafone Fiji’s CEO Mr Pradeep Lal said that this is the second consecutive year that Vodafone is paying dividends more than $30m after […]

Peni Shute

June 16, 2016 11:10 am

Vodafone Fiji today handed over a dividend payout of $33 million to two of its shareholders Amalgamated Telecomm Holdings (ATH) and the Fiji National Provident Fund (FNPF).

(L-R) ATH General Manager Mr Ivan Fong, FNPF Chairman Ajith Kogagoda, Vodafone CEO Pradeep Lal and FNPF's Chief Operating Officer Mr Jaoji Koroi during the handover today. (Vodafone)
(L-R) ATH General Manager Mr Ivan Fong, FNPF Chairman Ajith Kodagoda, Vodafone CEO Pradeep Lal and FNPF’s Chief Operating Officer Mr Jaoji Koroi during the handover today. (Vodafone)

Speaking at the handover, this morning Vodafone Fiji’s CEO Mr Pradeep Lal said that this is the second consecutive year that Vodafone is paying dividends more than $30m after the 100% takeover of Vodafone by the local shareholders.

LAL: “FNPF is our largest shareholder of Vodafone Fiji with a direct and indirect control of 86% equity followed by the ATH group. We are proud of our achievements being a 100% local entity. In less than a year after being localized, we have added over $120 million in shareholder value and paid a total of $66 million in dividends to our shareholders. We also contribute substantially towards the government revenue as one of the largest tax payer, paying over $30 million in direct and indirect taxes per annum.”

Mr Lal said that Vodafone continues to invest heavily in its network infrastructure of over $100million invested in the last few years.

LAL: “This has resulted in coverage for 65% of the population with 4G, expanding rural coverage and bringing in new products and services. We will be investing a further $35million this year for the expansion towards the network expansion.”

Mr Lal said after 22 years of succession, Vodafone will continue with the same zeal to deliver the best to customers and shareholders.

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