Pacific Balance Fund (PBF) has approved dividend payments totaling just over K25 million to its unit holders for the 2024 and 2025 financial years, Executive Chairman Jordan Paul announced today at the PBF office in Port Moresby city.

The Board of Trustees approved a dividend of 96 toea per unit for 2024, amounting to about K10.4 million, and K1.34 per unit for 2025, amounting to approximately K15 million.

Together, the payments total K2.30 per unit. PBF expects to pay the dividends in November this year, with payment dates to be announced separately.

Paul described the 2024 payment as the highest dividend in the fund’s history since it was established in 1973. The 2025 dividend sets a further record.

He attributed the results to improved financial performance since the Government took over the fund in September 2023. PBF’s net profit after tax rose from about K48 million in 2023 to K57 million in 2024 and approximately K122 million in 2025. Its net assets increased from K676 million to K734 million and then K853 million over the same period, with growth of about K177 million in two years.

Despite the stronger results, the fund has kept its dividend payout at around 20 per cent of cash operating profit, Paul said. This approach rewards unit holders while retaining capital to support PBF’s future growth.

Paul said the fund’s initial priority after the 2023 transition was to strengthen its foundations through improved product management, governance, financial discipline, and investment oversight, while addressing inherited legacy issues. He credited the progress to a team effort, particularly the staff of Weatherman Capital Advisers, as well as the fund administrator, lawyers, professional advisers and other partners.

He also acknowledged the support of PBF’s two largest unit holders, NAS Fund and MRDC, and the regulatory oversight of the Securities Commission of Papua New Guinea. Paul thanked the Minister responsible for capital markets, Richard Maru, for his leadership in developing and strengthening the sector.

Paul said PBF has about 23,000-unit holders, many of them ordinary Papua New Guineans living outside major urban centres. Including beneficiaries connected to major unit holders such as NEST Fund, MRDC, MRL Capital and the Catholic Church, he said the fund’s reach extends to more than two million people.

He described the fund’s assets as representing the hopes and long-term security of individuals, families and communities, and said this placed a significant responsibility on its trustees. Governance, prudence and public trust, he said, would remain central to the fund’s work.

A PBF unit-holder meeting is scheduled for November 19, with formal notices to be issued in accordance with the trust deed. The meeting will provide an opportunity to discuss the fund’s performance and future direction.

Paul concluded by highlighting three key figures from today’s announcement was basically; the record dividend of more than K25 million, the 2025 profit of approximately K122 million, and net assets of K853 million.

He said PBF would continue working to build a strong, trusted national institution that protects and grows the wealth entrusted to it.