BUSINESS REPORTER
National Foods Limited recently paid out a US$188,977 dividend to an employee trust as it rewards its workers after posting stellar financial results.
The dividend paid to the National Foods Workers will benefit qualifying employees who are non-managerial employees.
This brings the total amount paid over the financial year to US$576,707. The National Foods Workers Trust holds a 9.53% in the holding company.
National Foods Limited Group HR Executive Alice Pawarikanda said the dividends earned by the Trust are used to benefit its 1,262 members who are current and former non-managerial employees of the company.
“These dividends paid to the Trust are used to benefit employees in various ways and among them cash pay-outs as have been done over the past year. There are also initiatives in place such as the scholarship scheme with local universities where fees are being paid for qualifying beneficiaries’ children,” Pawarikanda said.
“To date 10 students who were on the scholarship scheme have graduated, and a further 30 are currently enrolled at universities across the country.”
The Trust was created in 1984 when the then National Foods Holdings Limited shareholders donated the shares to the employees creating the Trust for the benefit of the employees.
The Trust essentially links the ambitions of the company to the employees which means when the company performs, employees receive greater benefits. This makes it an attractive scheme to align the employees with the goals of the company.
