Four Companies Did Not Pay Dividends in 2024: SPX

The securities exchange will shape market progress this year through foundations it has set for key development projects.

While the market's performance was commendable last year, challenges persisted, said chief executive officer Sheraj Obeyesekere.

Those challenges included periodic slowdown in market activity, driven by cautious investor sentiment in certain months, he said.

"However, opportunities abound as the macroeconomic recovery and consistent growth in investor awareness position Fiji's market for sustained expansion," Mr Obeyesekere said.

"Strategic capital-raising mechanisms, such as initial public offerings and dividend reinvestment plans, present pathways for further market depth and liquidity."

In 2024, the market demonstrated an ability to provide returns in capital gains and dividends.

However, while the dividend-paying culture among listed entities continued, four of the 20 did not declare dividends, Mr Obeyesekere said.

"Dividends paid in 2024 amounted to $76.34 million, a 15.92 per cent increase from 2023," he said.

"Dividend reinvestment plans (DRPs) by entities like Pleass Global Limited (PBP) and Kontiki Finance Limited (KFL) attracted significant participation, with $1.39

million reinvested."

The SPX listed entities continued to demonstrate strong financial performance.

Trading activity showed positive improvements as the year's performance once again opened the door for IPOs as a capital-raising tool.

Port Denarau Marina

Analysing the market statistics generated by each listed entity in 2024, Port Denarau Marina Limited (PDM) shares dominated the aggregate

volume and value traded, contributing to 55.76 per cent and 52.55 per cent respectively of the overall statistics.

"The main contributing factor to the high volume and value traded in PDM share is execution of a negotiated deal transaction," SPX said.

SUN

A total of 550 new investors entered the Fijian stock market in 2024, representing an impressive 242 per cent increase compared to the same period last year.

"This growth is mainly attributed to the listing of SUN on August 15, 2024," SPX said.

"The initial public offering (IPO) for SUN alone welcomed 375 new investors, significantly contributing to the overall increase."

The consistent influx of investors throughout the year herald the commendable and stable performance of the Fijian stock market in 2024.

"Analysing new investor security preference, the majority of the new investors transacted in SUN, followed by Fijian Holdings Limited, Kontiki Finance Limited, Amalgamated Telecom Holdings and Port Denarau Marina."

Fijian Holdings Limited was the most active stock.

"FHL accounted for 69.20 per cent of the total number of trades in 2024."

The number of trades for FHL was approximately 13 times higher than the second most active security, underpinned by FHL's market-based dividend reinvestment option for shareholders, which accounted for 58 per cent of the aggregate number

of trades in 2024.

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