Ultimate Safaris Trust reports N$500 000 profit
The newly formed Ultimate Safaris Tribe Trust yesterday announced that it has made a profit of approximately N$500 000.
The trust, initially created in 2022 in preparation for the gifting of the shares from the 2023 financial year, saw a group of 10 Ultimate Safaris Tribe trustees be paid dividends totalling N$140 000 at a handover ceremony event held at one of Ultimate Safaris’ tourist destinations, Galton House Urban Retreat in Eros.
A statement issued by Ultimate Safaris indicated that dividend declarations are guided by Ultimate Safaris' conservative dividend policy.
“The policy dictates that 30% of profits are declared dividends, with the remaining 70% to be reinvested into the company and building resilience for future calamities. This means the profit for the trust shareholding was approximately N$500 000,” reads the statement.
Without liabilities
Speaking at the handover event, Ultimate Safaris co-founder and managing director Tristan Cowley said the conservative approach is what enabled Ultimate Safaris to not only survive the Covid-19 pandemic but thrive with its 100-plus team intact.
Cowley added: “The trust was created to reward long-serving tribe members who have been with Ultimate Safaris for over 10 years. Close to 10% of the staff is currently benefiting from the trust, which is expected to grow to 15% this year. It is important to point out that all beneficiaries are previously disadvantaged Namibians.”
He further indicated that the 2 255 shares awarded to employees in 2022, valued at N$4 million, are a genuine gift that comes without any liabilities and does not need to be paid for overtime with early proceeds.
N$23 million invested so far
Ultimate Safaris’ dedication to conservation and rural communities is self-evident in their non-profit organisation, Conservation Travel Foundation, which operates closely with Ultimate Safaris.
According to Cowley, last year alone, N$8 million was invested in conservation and rural development by the foundation. “This brought our investment over the past three years to N$23 million. This is above and beyond any commercial obligations Ultimate Safaris has,” he noted.
The trust, initially created in 2022 in preparation for the gifting of the shares from the 2023 financial year, saw a group of 10 Ultimate Safaris Tribe trustees be paid dividends totalling N$140 000 at a handover ceremony event held at one of Ultimate Safaris’ tourist destinations, Galton House Urban Retreat in Eros.
A statement issued by Ultimate Safaris indicated that dividend declarations are guided by Ultimate Safaris' conservative dividend policy.
“The policy dictates that 30% of profits are declared dividends, with the remaining 70% to be reinvested into the company and building resilience for future calamities. This means the profit for the trust shareholding was approximately N$500 000,” reads the statement.
Without liabilities
Speaking at the handover event, Ultimate Safaris co-founder and managing director Tristan Cowley said the conservative approach is what enabled Ultimate Safaris to not only survive the Covid-19 pandemic but thrive with its 100-plus team intact.
Cowley added: “The trust was created to reward long-serving tribe members who have been with Ultimate Safaris for over 10 years. Close to 10% of the staff is currently benefiting from the trust, which is expected to grow to 15% this year. It is important to point out that all beneficiaries are previously disadvantaged Namibians.”
He further indicated that the 2 255 shares awarded to employees in 2022, valued at N$4 million, are a genuine gift that comes without any liabilities and does not need to be paid for overtime with early proceeds.
N$23 million invested so far
Ultimate Safaris’ dedication to conservation and rural communities is self-evident in their non-profit organisation, Conservation Travel Foundation, which operates closely with Ultimate Safaris.
According to Cowley, last year alone, N$8 million was invested in conservation and rural development by the foundation. “This brought our investment over the past three years to N$23 million. This is above and beyond any commercial obligations Ultimate Safaris has,” he noted.
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