News Home /Resources /News /Board declares final dividend of K20.1 million

Board declares final dividend of K20.1 million

MVIL Board Members, Minister for Public Enterprises Hon. William Duma, MVIL CEO Mr. Michael Makap, KCH MD Prof. David Kavanamur and MVIL Chief Operating Officer Mr. Bafino Koi during the photo session.


Motor Vehicles Insurance Limited (MVIL) announced its final dividend of K0.60/ share for Financial Year 2022, which is an increase of 19% compared to 2021.


The Board of Directors of MVIL, on October 16, 2023, declared the distribution of final dividend at K0.60/share, an increase of 19.40% from the final dividend paid for the 2021 financial year.


The dividend declared is in line with meeting the shareholder expectation in consideration of the company achieving its performance targets and reporting profit. 


For the financial year 2021, the company paid an interim dividend of K0.50/ share and a final dividend of K0.60/ share, totaling K1.10/ share.


In April 2023, an interim dividend was paid at K0.68/ share and now the final dividend of K0.60/share, totaling K1 .28/share which equals to K42.9 million in total dividend for the 2022 financial year. 


MVIL Board Chairman Mr. Eno Daera MBE and Chief Executive Officer Mr. Michael Makap presented the cheque of K20.1 million to Kumul Consolidated Holdings (KCH) Managing Director Professor David Kavanamur in the presence of the Minister for State Enterprises Hon. William Duma and MVIL Board Directors at the KCH Office in Port Moresby. 


MVIL will continue to deliver successfully in its mandated responsibility in meeting customer expectations as well as social services obligations of our people throughout the country.

Read More