THE Board of Directors of the Melanesia Holdings Limited (MHL) trading as Provincial Press (PP) at its meeting on 31st May 2016, approved a 20% dividend to the shareholders being the ACOM Trust Board INC. owning 99% of the share and 1% the Archbishop of Melanesia. This relate to the company making an net operating profit of more than million dollars in 2015
The General Secretary of ACOM Dr Abraham Hauriasi during the meeting of the board, on behalf of shareholders, thank MHL for the dividend and reiterated that MHL should venture to other viable business undertaking to generate extra income for the shareholder.
On behalf of the Chairman of MHL Board, Director Michael Wate during the Annual General Meeting on 1st July 2016 in the presence of the Chairman of the ACOM Trust Board INC. the Archbishop of Melanesia Most Reverend George Takeli declared the 20% dividend. This is equivalent to SBD200,000.
On behalf of the management, the General Manager of MHL Mr. Oscar Vahimana, thanked the Chairman and Directors of MHL Board for the approval of the dividend to the shareholder. He also thanked the staff of MHL for their hard work in achieving such a fine result, a profit for the financial year 2015.
The General Manager stated that as long as MHL continues to make profit, it should continue to declare dividends to the shareholder with the approval of the Directors.
The declaration of the dividend by the MHL should serve as an encouragement to the commercial arms of the Church’s dioceses and institutions to strengthen the operation of their businesses so they too can declare dividends to their respective owners.