Shareholder pleased with performance

Business

NASFUND says the Bank South Pacific delivered excellent result for the 2019 financial year despite the challenging economic environment.
The 2019 full year results included a net profit of K890 million, and a final dividend payment of K0.96, bringing the total 2019 dividends to K1.34 per share.
Nasfund owns 9.7 per cent of BSP.
Chairman Charles Vee said: “As one of the top five shareholders of the bank, Nasfund is pleased with the achievements of this investment, and looks forward to continued positive returns.
“In the last five years, Nasfund has received K246.53 million in dividends from BSP, representing on average 15 per cent of the fund’s cash income.
“BSP continues to be Nasfund’s best performing investment in terms of yield (dividend) and capital value.”
During the bank’s annual general meeting on Friday, Sir Kostas Constantinou was re-elected for another term as chairman.
Priscilla Kevin was also elected to the board.
Vee welcomed the decisions, saying: “We are definitely supportive of Sir Kostas retaining the chairmanship of BSP.
“We also congratulate Priscilla Kevin’s appointment as a director.
“We remain committed to supporting BSP in its role in providing efficient banking services to its customers.”

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