The National Investment Fund Holding Company Limited has increased its portfolio by $600 million since its establishment in mid-2018.
In its audited summary financial statements for the year ending December 31st, 2023, Chairperson Jennifer Lutchman said the company ended the year with a portfolio of $8.66 billion. The Chairperson said in 2023, the investee companies’ dividend income of $324.1 million shows an increase by $20.8 million or 6.9% from the $303.3 million earned in the prior year.
According to the report, Republic Financial Holding Limited paid out overall dividends of $5.20 per share, Angostura Holdings Limited paid dividends of $0.35 per share, and Trinidad Generation Unlimited of $0.31 per share. One Caribbean Media paid out $0.20 per share compared and West Indian Tobacco distributed $0.78 per share.
The NIF Chairperson also noted its NIF2 Bond, which was launched in January 2024 for $400 million at 4.5% with a term of five years, was oversubscribed by 267% when it closed on February 9th, 2024.