The government has recently announced a substantial dividend payment amounting to $3,902,984.77 from Yaqara Pastoral Company Limited (YPCL), which represents 50 percent of the company’s net profit after tax for the 2018 and 2019 financial years. This significant payment not only underscores YPCL’s financial health but also highlights its vital role within the agricultural sector.
The formal presentation of the dividend was made by YPCL Chairman Uraia Waibuta to Charan Jeath Singh, the Minister for Multi-Ethnic Affairs, Culture, Heritage and Arts. This event included discussions with the Board of Directors and senior management of YPCL, where Minister Singh highlighted the importance of YPCL in the national landscape. He emphasized the need for the company to prioritize updating outstanding audits to enhance transparency and accountability in its operations.
Minister Singh articulated the strategic importance of YPCL, stating, “Yaqara Pastoral Company Limited is a brand of national significance in its own right. My role is to ensure that strategic assets such as YPCL receive the support they need to grow stronger, become more commercially robust, and deliver greater value to our people.” He acknowledged that financial discipline and modern reporting practices are essential first steps in this endeavor.
Expressing gratitude, Minister Singh commended the Board and management for facilitating the dividend distribution, noting its critical role in promoting economic growth and supporting community development initiatives throughout the region.
Chairman Waibuta echoed the minister’s sentiments, recognizing that the collaborative meeting signals a strong commitment from the government to enhance the performance of public enterprises. This partnership between the government and YPCL not only reflects confidence in the agricultural sector but also lays the groundwork for future advancements and development within the industry.
The recent dividend payment showcases a positive financial trajectory for YPCL, exemplifying the potential of public enterprises to make meaningful contributions to both the economy and local communities. The proactive measures discussed during the meeting indicate a hopeful outlook for continued growth and collaboration in the agricultural sector, which could benefit many people across the region.