Fiji Time: 3:13 PM on Wednesday 24 January

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'Historic' dividend

Manasa Kalouniviti
Saturday, June 17, 2017

SINCE its inception, the Fiji Electricity Authority will for the first time pay dividends amounting to $20million to the State, Acting Prime Minister and Attorney-General Aiyaz Sayed-Khaiyum said yesterday.

Mr Sayed-Khaiyum made the announcement at the FEA headquarters where he also revealed the payment of a middle-term bonus of $1.5 million to all Fiji Electricity Authority (FEA) staff.

The bonus follows a profitable year for FEA leading to a $20 million dividend payout to Government.

"We've always given them money, now they want to pay us and hopefully this is going to be an annual event going forward," Mr Sayed-Khaiyum said.

"They will pay us a dividend of $20 million, I understand, will be in August."

FEA chairman, Daksesh Patel said they had achieved all three things asked of him when he was appointed, which were to keep workers happy, be mindful of the poor of the country by keeping electricity costs down; and being profitable.

"We have achieved all of these last year and hopefully would try and achieve these results in forthcoming years which was why today is a historic day for us a," he said.

FEA general manager generation and acting CEO Eparama Tawake said in his 34 years at the FEA, the Government had always funded and helped the authority..

"The dividend payment will be historic, the first time ever for FEA and I'm proud to be part of the organisation," he said.

FEA workers will also receive a middle-term bonus of $1.5million, with each staff getting between $1000 to $1500 each.

"And more significantly the FEA board has decided that the bonus will be shared equally amongst staff. There's no distinction between CEO or linesman or receptionist. It's in recognition of the entire team," Mr Sayed-Khaiyum said.

He added that each member of the staff would get between $1000 and $1500.

The board and management confirmed that FEA staff would get their middle-term bonus payment come their next pay.

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