Coffee group declares first dividend in 4 years

By ZACHERY PER
THE PNG Coffee Growers Federation (PNGCGF) yesterday declared its first dividend of K30,000 for the first half this year.
PNGCGF general manager Bernard Goma and acting chairman Bisom Moyor jointly announced the dividend in Goroka yesterday, saying the amount represented 30% of the K100,000 profit made during the period.
About 174 shareholders will receive an average of K172 each.
Messrs Goma and Moyor said the dividend would be paid following a K0.08 rebate per kilo paid to the growers early this year.
Mr Moyor is the chairman of the Watut Coffee cooperative in Bulolo, Morobe province.
Mr Goma said the dividend would the first since PNGCGF started operations 2004.
He said praised PNGCGF’s US-based partner Coffee Pacifica Inc for continued promotion of PNG coffee abroad that helped them realised big profit margin.

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