MTSL to pay dividends

 THE Melanesian Trustee Services Ltd (MTSL) will pay dividends to unit holders next month.

MTSL said the financial records of the Pacific Balance Fund, which were audited in 2011, showed it was in a better position to pay dividends.

MTSL chief executive Kennedy Wemin (pictured right) said a dividend of K4.4 million was declared by the board, and would pay out 35 toea per unit.

“Our fund is now worth K320 million, which was achieved under the management of the MTSL between 2009 and 2011,” Wemin said.

“As an investment trust, our only source of income was the dividend income from investment and sale of trust assets … other income came from the issuance of prospectus for major investments. 

”We are working through our company directors to look at ways to improve our investment performance to bring in significant  capital growth and income over the medium to long term from our exposures in equities, fixed income and real properties, which have a low to moderate risk levels,” Wemin said.