Gov’t receives $9M dividend payment from State Insurance Corporation

The Government has received dividend payment for the second time in just over a week.

This time investment returns comes from the State Insurance Corporation, a wholly owned government institution.

At the Governments year end press conference held this morning, Manager of the insurance company Lindel Butler presented a cheque of over $9 million to Prime Minister Gaston Browne as dividend payment for the financial year ended in 2015.

PM Browne said that the government is expecting even greater dividend payment for 2016.

“It says here a cheque for nine million sixty five thousand three hundred and forty two dollars and six cents, payable to the Accounting General, representing the dividend payments for 2015, so it means therefore that in a matter of a few months by April of 2017, we should have cheque of about 11 million dollars. This dividend payment is after statutory deductions so the profits would have been even greater,” he said.

He further commended the staff and management for yet another successful year. He says it speaks volumes of the skilled individuals running corporations which are just as efficient as those in the private sector.

“Let me take this opportunity to commend the Board of Directors and staff and management at the corporation for yet another successful year. It also shows that we have young Antiguans and Barbudans that are running corporations that are just as or even more efficient than those operating in private sectors in Antigua and Barbuda and within the region,” he reported.

The Prime Minister encouraged the staff to press on and increase the market share in order to ensure that the cheques gets bigger.

 

News Reporter

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