Company pays dividends

Briefs, Islands

The National

SOUTH Bougainville Engineering, a company owned by the seven councils of elders (COE) in Buin, last week paid dividends totalling K21,000 for the 2005 financial year. It will be paying dividends for 2006 and 2007 later. Its managing director, Albert Kinani, said the company made K500,000 in 2005 and its directors approved dividends of K3,000 to be paid to each of the seven COEs. He said dividends for 2006 was also K3,000 while for 2007 had been increased to K4,000. Chairman of the board Paul Aisa said the payment of dividends demonstrated good management of the company.