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Ultimate Safaris honours long-serving staff with significant dividend payouts

Ultimate Safaris honours long-serving staff with significant dividend payouts

Ten trustees of the Ultimate Safaris Tribe Trust received substantial dividends earlier this month, totaling almost N$140,000, in appreciation for their years of service.

Each trustee walked away with an amount nearly equivalent to a full month’s salary.

The dividend allocations adhere to Ultimate Safaris’ conservative dividend policy, whereby 30% of profits are distributed as dividends, with the remaining 70% reinvested into the company. This prudent approach resulted in a profit of nearly N$500,000 for the Trust’s shareholding, fortifying Ultimate Safaris against future challenges, including the Covid-19 pandemic, while maintaining its workforce of over 100 employees.

In a move to recognize the dedication of long-serving employees such as Alfons Kaura, Francis Vries, and Adelina Mulongo, Ultimate Safaris’ shareholders granted 2,255 shares in the company to the newly formed Ultimate Safaris Tribe Trust in 2022.

These shares, currently valued at over N$4 million, were bestowed upon the Trust at no cost to the beneficiaries, distinguishing Ultimate Safaris’ ownership scheme from traditional models where employees purchase shares using their earnings.

Unlike many similar schemes, beneficiaries of the Tribe Trust received dividends in their inaugural year of membership, in addition to full bonuses paid to all staff in 2023.

Kaura, now the Chairperson of the Tribe Trust, emphasized that this reaffirmed the principle that hard work, dedication, and loyalty ultimately yield rewards.

Designed to promote long-term staff retention and safeguard the company’s interests without imposing financial risks on employees, membership in the Tribe Trust is automatically granted to those who have served Ultimate Safaris for ten years, making them shareholders in the company. Membership is available to every employee of Ultimate Safaris, with projections indicating a 50% growth by 2025, benefiting almost 15% of Ultimate Safaris’ employees, all of whom are previously disadvantaged Namibians.

Ultimate Safaris’ Managing Director, Tristan Cowley, outlined the long-term strategy to increase employee ownership by augmenting the Tribe Trust’s shareholding in the company. Additionally, plans are underway to include the Tribe Trust as a shareholder in any future ventures embarked upon by Ultimate Safaris.


 

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