PNG Economics Bulletin

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Prime Minister Marape Emphasises Commitment to Securing Maximum Benefits for PNG in Wafi-Golpu Mine Development

Prime Minister Marape Emphasises Commitment to Securing Maximum Benefits for PNG in Wafi-Golpu Mine Development Port Moresby, 18 March 2025 – Prime Minister Hon. James Marape has reinforced...

MINISTER FOR WORKS AND HIGHWAYS RESPONSE TO CENTRAL GOVERNOR’S CONCERNS ON THE CONNECT PNG PROGRAM

The Marape – Rosso Administration acknowledges the concerns raised by the Governor for Central Province in the news media on the 4th March 2025, regarding security risks associated with the...

Captain Beverley Pakii Sets New Milestone as Papua New Guinea’s First Airbus A220 Captain

Air Niugini’s Captain Beverley Pakii continues to record milestones in the aviation industry, this time becoming the first Papua New Guinean Airbus A220 Captain after successfully completing her type...

Santos Reviews CEPA Directive for K50 Million Compensation to Kutubu Landowners

Santos, the operator of the Kutubu oil fields says it is reviewing a direction by the PNG lead  environment regulator to pay millions of kina to Kutubu landowners for damages to two river...

MRA Management, Staff Welcome New Mining Minister Wake Goi

The Mineral Resources Authority (MRA) management and staff officially welcomed the newly appointed Mining Minister, Hon. Wake Goi MP, to the MRA on yesterday.  Minister Goi, who serves as the...

Bougainville Labour Mobility Alumni Celebrate Successful Pilot Program

Bougainvillians returning from seasonal work in Australia are leveraging their newly acquired skills and earnings to launch agricultural projects and businesses within their communities. Recently...

Santos announces refinancing of syndicated debt facility

Santos this week announced it had executed documentation to refinance its 2025 maturing syndicated bank loan facility. Santos holds leading shares in the PNGLNG Project following the successful merger...

Twinza’s Pasca A Gas Project on the cards to boost PNG Economy: PM satisfied with Progress

Prime Minister James Marape yesterday convened with State Lead Negotiator Dairi Vele yesterday to discuss key developments related to the Pasca Gas Condensate Project, located offshore from Kerema...

Kina Asset Management Ltd Declares Record Interim Dividend for 2024

Kina Asset Management Ltd (KAML) has announced a historic interim dividend of 20 toea per share for the half-year ending 30 June 2024, following a strong net profit of K9.9 million. This record...

Kina Asset Management Ltd Declares Record Interim Dividend for 2024

Kina Asset Management Ltd (KAML) has announced a historic interim dividend of 20 toea per share for the half-year ending 30 June 2024, following a strong net profit of K9.9 million. This record dividend marks a significant increase from the 12 toea per share dividend declared for the same period last year.

With the latest dividend declaration, KAML will distribute a total of K10.14 million to its shareholders. Since initiating dividend payments in 2009, the company has paid out an aggregate of 84 toea per share, amounting to K41.12 million in total dividends.

The 20 toea interim dividend for 2024 reflects a remarkable yield of 15.26% based on the current share price of K1.31. Furthermore, shareholders can expect a strong total return on equity of 66.7%, combining the dividend with capital gains of 40 toea per share, based on the share price of K1.30 as of 30 June 2024.

KAML’s Acting Chairman, Syd Yates, expressed satisfaction with the company’s robust performance in the first half of 2024, stating,

“The Board is pleased with the financial strength of KAML, which allows us to declare this record dividend for our shareholders. This dividend is a testament to our commitment to providing returns while balancing investment and managing our balance sheet effectively.”

Key Dates:

  • Ex-Dividend Date:  24 September 2024
  • Record Date: 26 September 2024
  • Payment Date: 24 October 2024

Additionally, KAML is inviting current shareholders to participate in the company’s Dividend Reinvestment Plan (DRP). This cost-effective option enables shareholders to increase their investment in Kina Asset Management Ltd. Shares issued under the DRP will be based on the net tangible asset backing per share, with pricing communicated in a separate notice preceding the Record Date.

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