Nasfund acknowledges performance

NATIONAL Superannuation Fund (Nasfund) has acknowledged Credit Corporation (PNG) Ltd on its 2019 financial year performance.
Nasfund said this included a K132 million net profit and a final dividend of payment of 12 toea per share, bringing total 2019 dividends to 19t per share with a dividend yield of 12.67 per cent against the current share price.
The fund, in a statement, said taking into account share price appreciation, the results had delivered total shareholder returns of 36 per cent.
Chairman Charles Vee said the results demonstrated resilience which was a testament of the company’s 42-year history.
“In a difficult economic climate and during their short term in office, the board and executive management have shown great leadership to implement their strategy to enhance performance of the core business segments of property and finance, improve efficiencies across the group and produce strong results for shareholders,” he said.
“Nasfund commends Credit Corp Ltd chairman Syd Yates and his board, group chief executive officer Peter Aitsi, management and staff for delivering a better-than-expected result for the 2019 financial year.”