Credit Corporation announces dividend of 4.6 toea per share

CREDIT Corporation PNG has declared a dividend of 4.6 toea per share reflecting its improved performance in the first half year.
The group remains concerned for the second half of 2021 with the impacts of the Coronavirus (Covid-19) pandemic across its Pacific points of representation, borders remaining closed, delinquency levels high and the uncertainty as to when borders will reopen to kick-start local economies.
Inclusive of the 4.6 toea interim dividend per share, the group has declared a total of 22.6 toea per share in dividend payments to shareholders this year.
Credit Corporation chairman Richard Sinamoi said the board’s decision in relation to the dividend reflected the group’s improved first half performance.
The group achieved a 104 per cent increase in core operating profit and 122 per cent increase in NPAT in 1H21 compared to the previous corresponding period.
“We delivered improved financial results and continued to support our customers, communities and all stakeholders, notwithstanding the challenges faced by many customers and the economies where we operate continuing into the half,” Sinamoi said.
“Our decision in relation to the 1H21 dividend is supported by our strong capital position and the current business outlook, while balancing our commitment to support our shareholders given ongoing market and economic uncertainty.”
Sinamoi said the board continued to seek growth opportunities, while focusing on costs. He said the board was leading a strategic review which would determine the future direction of the group.