National Foods pays workers’ trust dividend

Business Reporter

THE National Foods Workers’ Trust earned a dividend of US$188 977 for the half-year to December 2022 and the amount is being paid out to qualifying non-managerial employees.

This brings the total amount paid over the financial year to US$576 707.

In an interview with the National Foods Limited group human resources executive Alice Pawarikanda confirmed the payments saying the National Foods Workers’ Trust held 9,53 percent of the holding company shareholding.

“The dividends earned by the trust are used to benefit its members who are current and former non-managerial employees of the company who are 1 262 in total

“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,” she said.

The group also has other initiatives in place such as the scholarship scheme with local universities where fees are being paid for qualifying beneficiaries’ children.

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 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, allowing them to receive greater benefits whenever the company performs well. This, therefore, makes it a very attractive scheme to align the employees with the goals of the company.