RB Patel Group Limited has declared a final dividend of 3.5 cents per share, amounting to $5.25 million, to be paid by October 1.

This will bring the total dividends paid for the financial year to 5.5 cents per share, amounting to $8.25 million.

Company Chair Kamal Haer says that, of the 5.5 cents per share, this dividend is the highest paid since listing, except for last year’s record seven cents per share, which was a catch-up for the reduced dividends paid from 2020 to 2022 during the pandemic.

Haer also highlighted that the company has acquired a number of vacant properties for future developments, which will also require funding.

She says revenues, including other income, increased by over 8.4 percent to $184 million from $170 million last year.

Net profit after tax for the year is $12.5 million, an increase of over 62 percent compared to last year, despite an increase in the rate of income tax to 25 percent from 10 percent.

Haer says that considering the global and domestic market conditions, the large number of Fijians who have migrated, and the competitive nature of the industry, the company’s results are commendable.

She adds that the supermarket industry continues to get more competitive with new stores and players entering each year.

Haer acknowledged the continued positive impact of tourism growth in driving economic recovery for Fiji.