SPOL and Our Telekom remain SINPF’s biggest dividend contributors

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South Pacific Oil Limited (SPOL) and Our Telekom continue to be the two biggest contributors to the Solomon Islands National Provident Fund (SINPF) dividends for the past financial year, according to SINPF Chief Executive Officer, Mike Wate.

Speaking during the announcement of an 8% crediting rate to members on Tuesday, Wate said the Fund’s financial performance for the year ending 30 June 2025 recorded a “very strong positive result.”

The Fund posted a draft gross income of $430 million, a significant increase of more than 80% compared to the previous year’s $252.2 million.

“After adjusting for operational and member costs, the Fund achieved a net profit of $330.5 million before member distribution and reserving, representing a net return of 6.6% against an investment portfolio of more than $4.59 billion,” Wate said.

Key drivers of performance

Wate highlighted that strong cash dividends from key domestic and international equities underpinned the Fund’s results. These included:

• South Pacific Oil Limited (SPOIL): $70 million

• Solomon Telekom Company Limited: $43.78 million

• BSP Financial Group Ltd (PNG): $8.82 million

• UBS Australian Fund: $2.49 million

• Solomon Submarine Cable Company Limited: $0.84 million

Altogether, these unlisted and listed equities contributed more than $125 million in dividends to the Fund for the year.