Samoa Ports Authority returns $3.9 million Tala Dividend to Government

Apia— 22 March 2024 — The Samoa Ports Authority today presented $3,991,448 to the  Minister for Public Enterprises, Leatinuu Faumuina Wayne So’oialo. The cheque was presented by the Minister of Works, Transport and Infrastructure, Olo Afoa Fiti Vaai, on behalf of the Chairman and Board of Directors, Management and staff of the Samoa Ports Authority (SPA).

The Dividend declared and approved by the SPA Board represents 35% of the Audited Net Profits of $11,404,138 for the financial year ending 30 June 2023.

It is the seventh consecutive year SPA has consistently achieved a Net Profit allowing the Authority to pay dividend to its shareholder, the Government of Samoa, as regulated under the Public Bodies Act 2001. From 2017 to 2023, SPA paid a total accumulated dividend of $23,611,352 million tala to the Government.

CEO, So’oalo Falelima Kuresa So’oalo said, ”As a state owned entity (SOE), the Authority is proud of its improved financial situation allowing it to honour its statutory responsibilities such as paying dividend to assist the Government with its many developments.

“SPA acknowledges with appreciation the support from the Government, business partners, port users, stakeholders, the Board of Directors, Management and most importantly, the hard working staff and their families of whom, is the driving force behind the positive results.”