iTaukei Land Trust Broad Chief Executive Solomone Nata

Over 30,000 iTaukei minor investors have benefited from a dividend payout of approximately $900,000 by the Unit Trust of Fiji.

iTaukei Land Trust Broad Chief Executive Solomone Nata says this is the initial payment for the first six months of the investment period which is from January to June.

Nata says this payout results from an investment partnership between UTOF and TLTB.

He adds they are pleased to see the benefits from their key investment portfolios starting to materialize.

He states this is what they anticipated for the young landowners whose land has been leased out by TLTB.

In June last year, TLTB strategically moved funds held in trust for iTaukei landowners under 18 years old from HFC Bank to UTOF to diversify their investment portfolio.

Currently, 32,941 individual iTaukei landowners under the age of 18 have lease entitlements totaling $69 million, with a first six-month dividend payout of $980,235.66.

The funds, managed by TLTB on behalf of the minors, will be paid out, including dividends, once they reach the age of 18.