Post PNG pays K1.5mil dividend to KCHL

POST PNG Ltd, a state-owned enterprise, has paid a dividend of K1.5 million to the Kumul Consolidated Holdings Ltd as the shareholder representing the Government.
According to a statement from the company, the Covid-19 pandemic had affected the performance of some of its product lines but its logistics network was able to deliver.
The company provides logistics services to the Government, Unicef, World Vision, City Pharmacy Ltd Group and the International Red Cross by delivering health and safety equipment and supplies to provinces.
Post PNG provides other products apart from postal services.
“The declaration and payment of the dividend reflects the company’s performance and commitment to the State,” it said.
“The company believes it can perform better in future and pay greater dividends if the Government uses its logistics network to deliver health and education projects annually. “Despite its challenging industry, the company continue to invest in its core strength for growth.” Post PNG has a network of 43 branches in the country.