SAMOA, June 26 - DIVIDEND DECLARED 2020: $64.5 million tala

(26th JUNE 2020); In accordance with Section 36 of the SNPF Act 1972, the Minister, the Board and Management of the Samoa National Provident Fund have resolved to declare a final total dividend of 9.1% for the financial year ending 30th June 2020 to the value of $64.5 million tala – the greatest ever in the history of the Fund.

The Fund recognises the economic adversities facing Samoa at this present time as a direct consequence of the COVID-19 pandemic. As a result, the decision by the Board and Management to pay out the unprecedented amount of $43.2 million tala in cash is designed to provide much needed financial assistance to our members and their families. This amount paid in cash equates to 6.1% of the declared dividend.

Disbursement of the dividend to members can be itemised as follows;  $7.8 million (1.1%) paid in cash to members on 2nd December 2019  $21.3 million (3%) to be credited to members’ contribution accounts on 1st July 2020  $14.2 million (2%) paid in cash to members on 1st July 2020  $10.6 million (1.5%) paid in cash to members on 30th November 2020  $10.6 million (1.5%) paid in cash to members on 22nd March 2021  Total Payout: $64.5 million

The Board, Management and all the Staff at SNPF take pleasure in the knowledge that we can step up to help our people in these unprecedented times. All glory, thanksgiving and praise to Almighty God, our Lord Jesus Christ who is able to do immeasurably more than all we can ask or imagine according to his power that is at work within us.

Thank you The Minister, Board and Management

June 26, 2020