[Source: Government Press Secretariat]

Yesterday, the Samoa Ports Authority (SPA) presented a dividend of $3,492,691 to the Government of Samoa through Prime Minister Tuilaepa Sailele Malielegaoi.

The cheque was presented by the Chairman of the Board; Afioga Tuiloma Neroni Slade on behalf of the Minister of Samoa Ports Authority, Papaliitele Unasa Niko Lee Hang, Board of Directors, Management and staff. The dividend represents 50% of the Authority’s Net Profits for the Financial Year ended 30 June 2017. This is the highest return the Authority has paid to its shareholders since its establishment 19 years ago.

During the presentation, the Authority’s Chief Executive Officer, So’oalo Kuresa So’oalo said, “We are very pleased with the Board’s decision to approve these cash dividend payments and proud to share the Authority’s financial success with SPA’s shareholders, the Government of Samoa. SPA’s improved operating and financial performance and strong balance sheet have provided the opportunity to pay the highest dividend since its inception in 1999. This action demonstrates the Board and Management’s confidence in Samoa Ports Authority’s growth opportunities and reinforces SPA’s commitment to create value and maximize returns for the shareholders and strongly support its statement of being the Gateway for Prosperity.”

SPA acknowledges the support of the Government of Samoa, Overseas Development Partners and Donors, Customer, Stakeholders and everyone that contributed to the positive results.

In accepting the dividend, Prime Minister Tuilaepa congratulated and thanked the Chairman, Board members and the Authority for paying dividends to assist with the Government’s developments.