Contributors to the Samoa National Provident Fund (SNPF) are awaiting crucial updates regarding their dividends, as the SNPF board and Minister of Finance have not yet approved any payouts. 

The Chief Executive Officer of SNPF Lemalu Selesitina Pulega confirmed to the Samoa Observer that no dividends have been authorised at this time. 

"There are no dividends approved yet by the board and the minister," stated Lemalu. 

In December 2023, it was announced that contributions would be paid out in January 2024. In contrast, contributors are now left without any clear updates on the distribution of dividends as the new year approaches. 

In January 2024, a special interim dividend was provided, valued at approximately SAT$19 million, coinciding with the start of the 2024 year. The then payout comprised a 2 per cent interim dividend, which was accessible from January 23 to February 17 last year. 

The latest payout was in June 2024 when SNPF declared a SAT$60.1 million dividend; however, only 1.6 per cent would be distributed as cash payout on 1 July. Lautimuia Uelese Va’ai indicated then during parliamentary discussions on the 2024-2025 budget that a total dividend of 9 per cent had been earmarked for SNPF contributors for the fiscal year ending June 30 2024. 

Of this total, 2.4 per cent, amounting to SAT$24.77 million, was already distributed in January 2024. 

The remaining 6.6 per cent of the dividend, clarifying that SAT$14.6 million (1.6 per cent) would be disbursed as cash payouts to contributors, while SAT$45.5 million (5 per cent) would be allocated to members' contributions, bringing the total dividend value to SAT$84.87 million. 

As contributors wait for further announcements, concerns over the timing and approval of these dividends grow, especially with the new academic year creeping up.