The Na­tion­al In­vest­ment Fund Hold­ing Com­pa­ny Lim­it­ed (NIF) is re­port­ing that it made two coupon pay­ments, the twelfth coupon pay­ment of $85.2 mil­lion.

In a no­tice yes­ter­day, NIF said the pay­out came from its Se­ries B and Se­ries C bonds, which brought the to­tal pay­out on these bonds since their es­tab­lish­ment to $1.29 bil­lion.

The whol­ly state-owned com­pa­ny al­so said that its first coupon pay­ment on the NIF2 Bonds amount­ed to $9 mil­lion.  

It not­ed that since its in­cep­tion, NIF has been able to meet all its statu­to­ry pay­ments in the light of its bal­anced and well-struc­tured port­fo­lio.  

It added the next se­mi-an­nu­al coupon pay­ments to bond­hold­ers of Se­ries B and Se­ries C and the NIF2 Bonds would be on Feb­ru­ary 9, 2025.  

In NIF’s an­nu­al re­port for the year end­ed De­cem­ber 31, 2023, which was pub­lished on the Trinidad and To­ba­go Stock Ex­change web­site,  NIF chair Jen­nifer Lutch­man said, “The per­for­mance of the in­vestee com­pa­nies re­mains healthy and the div­i­dend in­flows re­ceived in 2023 ex­em­pli­fy the ro­bust port­fo­lio col­lat­ed in 2018.”

She broke down the div­i­dend pay­ments in the re­port as fol­lows:

“a) Re­pub­lic Fi­nan­cial Hold­ing Ltd (RFHL) paid out over­all div­i­dends of $5.20 per share which was an in­crease of 15.5 per cent over the 2022 div­i­dends of $4.50 per share;

b) An­gos­tu­ra Hold­ings Lim­it­ed paid div­i­dends of $0.35 per share, match­ing its pay­out in 2022;

c) Trinidad Gen­er­a­tion Un­lim­it­ed of $0.31 per share, match­ing 2022;

d) One Caribbean Me­dia paid out $0.20 per share, com­pared with $0.17 per share re­ceived dur­ing 2022; and

e) West In­di­an To­bac­co dis­trib­uted $0.78 per share in 2023 com­pared with $1.42 dur­ing 2022.”

Lutch­man said, “We end­ed the year with a port­fo­lio of $8.66 bil­lion which re­flect­ed an in­crease of $0.6 bil­lion, since our es­tab­lish­ment in mid-2018. The port­fo­lio con­sists of shares from the five com­pa­nies:

• RFHL with 29.95 per cent share­hold­ing, which ac­count­ed for 66 per cent of the port­fo­lio;

 • Trinidad Gen­er­a­tion Un­lim­it­ed with 100 per cent com­pris­ing 17 per cent of the port­fo­lio.

• An­gos­tu­ra Hold­ings Ltd with 29.9 per cent, com­pris­ing 15 of the port­fo­lio;

• West In­di­an To­bac­co Com­pa­ny with 5.4 per cent com­pris­ing 1 per cent of the port­fo­lio; and

• One Caribbean Me­dia Lim­it­ed with 23 per cent com­pris­ing one per cent of the port­fo­lio.

In de­liv­er­ing the 2020 bud­get, on Oc­to­ber 7, 2019, Fi­nance Min­is­ter Colm Im­bert in­tro­duced the no­tion of a NIF2.