THE Fiji Pine Group of Companies (FPG) has clarified that it is not involved in the distribution of dividend to pine landowners, following accusations on social media that it was withholding funds.
In a statement, the state-owned entity – which comprises of Fiji Pine Ltd, Tropik Wood Industries Ltd and Tropik Wood Products Ltd – said issues highlighted in a recent Facebook post by digital creator Suliasi Daunitutu of Australia, which claimed to be originated from Bua landowners and asserted the non-payment of lease rentals to a certain mataqali in Bua, were not factual.
“Fiji Pine Limited wishes to confirm that all its payment of land rentals to all landowning units are up to date. Fiji Pine Limited wishes to further clarify the misinformation regarding the distribution of dividend to all land-owning units.
While Fiji Pine Ltd recently declared a dividend payout for the financial year 2024, the company is not responsible for the disbursement of dividends to each landowning unit.
“Fiji Pine Ltd is a commercial company and its sole purpose is to operate a profitable and sustainable business, and ensures a healthy return of investment to its shareholders, landowning unit through the Fiji Pine Trust.”
The Fiji Pine Trust, it added, receives dividends from Fiji Pine Limited and distributes them to landowners.
“All landowning units are encouraged to get in touch with their beneficiary representatives at Fiji Pine Trust to get information on the payment of their dividends. The Fiji Pine Trust team has been undertaking beneficiary consultations and it is important to discuss issues with your representatives who attended the beneficiary meetings.”
Last month, Fiji Pine Ltd transferred a dividend payment of $5million to the Fiji Pine Trust for the first time in its history, a move that it said represented a new approach to managing benefits, promoted greater transparency, fairness and a community-centered distribution across all landowning groups.
“For the first time, dividends are being directly distributed to the Fiji Pine Trust instead of individual landowners,” Fiji Pine executive chairman Ratu Rakuita Vakalalabure said during the cheque handover ceremony.
He said Fiji Pine Trust will distribute the money after consultations with beneficiaries and after they have a distribution system in place.
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