NEWS

Record Vodafone Payout

Vodafone Fiji handed over a record dividend cheque of $33million in total to its two major shareholders – the Fiji National Provident Fund (FNPF) and Amalgamated Telecom Holdings (ATH) Group
25 Jun 2015 09:53
Record Vodafone Payout
From left: Amalgamated Telecom Holdings general manager Ivan Fong, Vodafone chief executive officer Pradeep Lal, Fiji National Provident Fund assistant general manager member services Alipate Waqairawai, FNPF Board chairman Ajith Kodagoda.

Vodafone Fiji handed over a record dividend cheque of $33million in total to its two major shareholders – the Fiji National Provident Fund (FNPF) and Amalgamated Telecom Holdings (ATH) Group as full and final dividend payment for the last financial year.

This is the single largest dividend payout that Vodafone Fiji has made to its shareholders since the inception of the company 21 years ago.

FNPF is the largest stakeholder of Vodafone Fiji with a direct and indirect control of 79 per cent equity in the company.

In accepting the cheque, FNPF chairman Ajith Kodagoda acknowledged Vodafone’s exceptional performance over the past 20 years delivering

above average returns on shareholder funds invested in the company.

He said this was a great milestone for the country and all Fijians.

“It meant that all profits made by Vodafone Fiji Limited is retained in Fiji and the dividend received today will have a significant impact on FNPF’s income, which is later distributed to FNPF members. All Fijians need to understand that that they own 100 per cent of VFL and whatever they spent with the business will come back to them in the form of dividends,” said Mr Kodagoda.

“Vodafone Fiji has been a star performer in the portfolio of investments held by FNPF delivering impressive returns on FNPF member funds.

“It has consistently delivered above average returns over the last 20 years. This is a reflection of the strength of the company, its management capability, its strategies and business processes which have remained relevant with time to meet customer expectations in a fast evolving and globally competitive ICT industry. Credit goes to the Board and the Management for the great stewardship and strategic direction to the employees for the passion to deliver such excellent results.”

In July last year, Vodafone Fiji became a 100 per cent locally-owned entity after FNPF acquired 49 per cent of Vodafone Group shares in the company.

Since the deregulation of telecommunication market in 2007, Vodafone Fiji remains the market leader, maintaining its premier position by continuously being first to market with new products and services

Vodafone Fiji has achieved many milestones in its 21 years of operations in the country. It holds the distinction for the only corporate to have won the prestigious President’s Award for Business Excellence for a record four times.

Last year, the company also won a World Class Award for Business Excellence from the Asia Pacific Quality Organization based in Singapore. Lately, the company was rated number one in the Asia Pacific regions for 4G mobile data speeds by the popular online speed testing site.

In May this year, the company picked up yet another global award, this time in the Service Innovation category from Global Telecoms Business Innovation Awards and Innovation Summit in Piccadilly, London.

On the corporate philanthropy and corporate social responsibility front, Vodafone is a model in country. Its contribution back to society through the numerous sponsorships, “mobile for social good” and “world of difference programs” are exemplary.

Last year saw the retirement of Vodafone’s Fiji’s long-serving CEO, Aslam Khan.

The CEO role is now assumed by Pradeep Lal, who was previously the Chief Operating Officer. Mr Lal has hit the ground running securing management contracts with a number of major mobile telcos in the region.

Recently, with ATH announcing the 100 per cent acquisition of the assets of Telecom Services Kiribati Limited, ATH will be leveraging on the strength and expertise of Vodafone Fiji to manage the business on its behalf.

Two week ago, the company also announced the takeover of Fiji leading IT Company, Datec Fiji Limited as it prepares for the next of wave growth through cloud based technologies and “internet of things”.

The expansion strategy is to look for growth opportunities in the region and in the ICT sector. More acquisitions and joint venture discussions are in the pipeline and company is expected to make these announcements as these get formalised.

 

About Vodafone Fiji:

Vodafone Fiji Limited is a 100 per cent locally owned company. It operates under a franchised partner market arrangement with Vodafone Group Plc. Vodafone is the leading mobile communications company in the world with its own network in 21 countries and partner network in 40 other countries with a worldwide customer base of 440 million proportionate customers. Vodafone Fiji is a subsidiary company of the Amalgamated Telecom Holding Fiji which provides mobile telecommunications services to over 750,000 customers in Fiji.

 



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