NIF pays out $94.2m in bonds

THE National Investment Fund Holding Company Ltd (NIF) has said it was able to pay out $94.2 million in bonds to investors on August 9.

In its unaudited interim financial statements for the period ended September 30, 2024, NIF said it made its 12th coupon payment of $85.2 million to its bond holders on its Series B and Series C Bonds. It said this brought total payout on these bonds since the establishment of NIF to $1.29 billion.

It said simultaneously the first coupon payment on the NIF2 Bonds, amounting to $9.0 million, was made.

The next semi-annual coupon payments to bond holders of Series B and Series C and the NIF2 Bonds will be on February 9, 2025.

NIF said the performance of its investee companies continues to be encouraging.

It said Republic Financial Holdings Ltd delivered another strong performance for the nine-month period ended June 30 2024, recording a profit of $1.5 billion to its equity holders and representing an increase in profits after tax of $213 million, or 17 per cent, over the $1.3 billion reported in the corresponding period of the last financial year.

In September 2023, Republic Bank reduced the US-dollar limit on its credit cards from US$10,000 to $5,000 per cycle.

NIF said Angostura Holdings Ltd paid an interim dividend of $0.10 per share on September 30, 2024, and West Indian Tobacco Company paid an interim dividend of $0.20 per share on August 26, 2024.

The financials said One Caribbean Media achieved a net profit before tax of $13.4 million, which was three per cent above the prior year, June 2023; and Trinidad Generation Unlimited’s net profit before tax of $19.9 million to June 30, 2024 reflected a 26 per cent increase compared to the comparative period in 2023.