Republic Financial Holdings Limited announces that its group recorded profit attributable to its equity holders of US$262 million dollars for the year ended September 30, 2023.
The Chairman of Republic Financial Holdings Limited, Vincent Pereira, says it’s an increase of US$33.4 million dollars or 14.6% over the 2022 reported profit of US$228 million.
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In announcing the results Mr. Pereira said, “The strength of the Group lies in its ability to harness the quality of people and the enviable balance sheet to serve its customers, along with the geographically diverse portfolio of assets.
The characteristics that make Republic Financial Holdings resilient such as fiscal discipline, strong risk management culture, effective governance framework and robust capital, continue to serve the institution well, and have created an excellent foundation from which they can continue to deliver sustainable results.
The Board of Directors has declared a final dividend of US $ 0.61 per share to be paid on December 1, 2023 to all shareholders on record on November 16, 2023.
This brings the total dividend to US$0.78 per share for the fiscal year, an increase of 15.6% or US$0.11 over 2022.
The company will be moving to a quarterly frequency for dividend payouts in the fiscal 2024.
Pereira went on to say that, “In the face of dynamic market conditions and an evolving financial landscape, the RFHL Group continues to adapt and deliver strong positive results, while maintaining robust capital adequacy ratios across all its subsidiaries and at the consolidated level.
He says this success could not have been realized without the talented, resilient and committed staff across the fourteen countries in which they operate.
