Freebird shareholders set to receive final dividend

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Free Bird Institute executive chairman Hiroshi Taniguchi. Picture: FT FILE

SHAREHOLDERS of Freebird Institute Ltd are set to receive a final dividend payout of 3.5 cents in relation to the 2018 financial year reflecting a 1.18 per cent return on investment to the shareholders.

The company released its audited financial statements for 2018 today.

A market announcement from the South Pacific Stock Exchange said the dividend announced was in line with the board’s commitment to ensuring shareholders continued to get an equitable return on its investment that was competitive in the market.

Company’s executive chairman Hiroshi Taniguchi said the board had declared an interim dividend of $0.07 cents in September last year and this declaration brought the total return of investment for shareholders to 3.60 per cent in relation to the 2018 financial year compared to 3.57 per cent in 2017.

Mr Taniguchi said the company’s restructuring at the beginning of the year also saw the integration of the high school department into the business, which also supported the revenue earned during the year.

He said this also gave rise to the increase in the personnel expenses during the last financial year.

“The drop in student numbers resulted in the decrease in student-teacher ratio but where teaching resources and personnel remained the same from prior years,” Mr Taniguchi said.

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