The Government of Antigua and Barbuda has received nearly XCD$7.5 million in dividends from its investment in the West Indies Oil Company (WIOC). This payout is part of a wider distribution to shareholders, totaling over $16.3 million, with each share earning $2.76 in dividends.
During WIOC’s Annual General Meeting at the John E. St. Luce Finance and Conference Centre, the company revealed an audited profit of $25.7 million for the 2023 financial year, highlighting its strong performance. Looking ahead, WIOC has projected a profit of $25.6 million for 2024, signaling continued growth in the energy sector.
WIOC’s financial success is seen as an important barometer for economic activity in Antigua and Barbuda, reflecting broader trends within the national economy. The government’s dividend earnings come at a crucial time, with heightened focus on optimizing state investments to fund public services and development projects.
As WIOC anticipates another profitable year, its performance will be closely monitored by stakeholders and analysts for its potential impact on the country’s economic outlook.
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I guess Brix and his flonkies have nothing to say. I hope you guys are counting the amount of dividend the Treasury is getting ever since smart Dr. Browne was able to buy WIO without taking one dime out of the Treasury. A company UPP wanted to buy for US$80million and then sell more then half to Venezuela, while Browne bought it for US$30million and only sold Venezuela 25%.
It shows who has the brain to run this country. We have long make back our investment. And still holding on to 49%.
That’s economics not politics
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