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National Foods pays dividend to employees

Local News
National Foods Workers Trust holds 9,53% shareholding in the company.

NATIONAL Foods Limited Group has paid out a dividend of US$188 977 to non-managerial employees under its employee share ownership scheme.

This brings the total amount paid out over the financial year to US$576 707.

National Foods Limited group human resources executive Alice Pawarikanda confirmed the payment, saying the National Foods Workers Trust holds 9,53% shareholding in the company.

Pawarikanda also revealed that dividends paid to the trust will benefit 1 262 current and former non-managerial employees.

 “These dividends paid to the trust are used to benefit employees in various ways and among them cash pay-outs as have been done over the past year.

“There are also initiatives in place such as the scholarship scheme with local universities where fees are being paid for qualifying beneficiaries’ children.

“To date 10 students who were on the scholarship scheme have graduated and a further 30 are currentlyenrolled at universities across the country,” Pawarikanda said.

The trust was created in 1984 when the then National Foods Holdings shareholders donated the shares to employees.

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