TONGA CABLE LIMITED (TCL) DIVIDEND FOR THE FINANCIAL YEAR 2022/23

27 FEBRUARY 2024

On the 21st February 2024 Tonga Cable Limited (TCL) held it’s Annual General Meeting (AGM) for 2024. TCL is one of the Public Enterprises (PEs) with the Government of Tonga (GoT) as the majority Shareholder (66.78% share value). Other Shareholders include Tonga Communication Corporation (TCC) and Digicel Limited (Digicel Tonga) with share values of 16.61% respectively.

During the AGM the Shareholders together with the Chairman of TCL, Board of Directors and Management declared a dividend for the financial year 2022/23 of $1,600,000.02 (i.e. 62.3% of Net Profit after Tax) as a result of the company’s profitability for the year of $2,569,507 (2021/22: $1,928,658). Out of the $1,600,000 declared, dividend distribution amongst the Shareholders would value at $1,068,480.02 (GoT), $265,760 (TCC), and $265,750 (Digicel Tonga).

The Prime Minister and Acting Minister for Public Enterprises, on behalf of the Majority Shareholder at the conclusion of the AGM acknowledged and thanked the TCL Board of Directors, Management and Staff of TCL for the years effort reaping the dividend payment that will certainly contribute towards the development of the Government and Kingdom.

For any additional information please contact our office on (676) 7400251.

Figure 1 (Left to Right): Dr Fotu Fisi’iahi (CEO for MPE), Hon Hu’akavameiliku (Prime Minister & Acting Minister for MPE), Rev Samiuela Fonua (Chairman of the TCL Board of Directors), and Mr Semisi Panuve (CEO for TCL). 27th February 2024 at the Prime Minister’s Office.
Photo credit: Hon Hu’akavameiliku