CFL declares interim dividend of 4 cents per share for the first six months of the year

Communications Fiji Limited, the South Pacific region’s largest commercial broadcaster and parent company of Legend FM, FM96, Viti FM, Navtarang, Radio Sargam and fijivillage has announced that it is declaring an interim dividend of 4 cents per share for the first six months of the year to June 30th 2022.

CFL Board Chair, William Parkinson says the company continues to perform strongly in both Fiji and Papua New Guinea tracking well ahead of the previous year.

CFL Group delivered an after tax profit of $254,408 for the first six months of the year and expects performance to significantly improve in the second half of 2022.

Parkinson says as shareholders will know the July to December, 6 months always delivers much stronger revenue and we expect the Papua New Guinea market to really accelerate now as the election is out of the way.

The CFL Chairman says we are also seeing growth in Fiji but uncertainty over timing of the election is making it difficult to forecast.

The Communications Fiji Limited board has also noted the increase in company tax announced in the recent budget.

Parkinson says the effective doubling of tax will have an obvious effect next year but beyond that it will have a limited impact on the business.