Business

Fiji Pine hits $48m in payout

October 30, 2024 2:05 pm

Fiji Pine will have paid out over $48 million in lease security bonus payout by the end of this year.

This comes as six million dollars is to be distributed this year, adding to the already paid out $42.5 million.

Fisheries and Forestry Minister, Alitia Bainivalu says these payments are a testament to the value Fiji Pine places on landowners and their integral role in the success.

Article continues after advertisement

She says the six million will be the final payment as beginning in 2025, the company will transition to distributing dividends accurately to its stakeholders, specifically the landowners, based on the industry’s performance.

Bainivalu says this change is part of the ongoing governance enhancements.