Fifty years later, Morobe villagers finally get dividents for Mainland shares


THIRTY-three villages in the remote Siassi islands of Morobe received their first dividend payment from Mainland Holdings Ltd after 50 years on Friday.
The shareholders received K130,000 with another K364,000 to be paid later. The villages has been buying shares since 1968 but has had no dividends paid.
The payment was significant, as this was the first time the shareholders had received their dividends through their business group, Rooke Business Group Inc.
The first payment of K31,000 by MHL in 2010 to Siassi Island shareholders was never received, the islanders claimed.
Chairman of Rooke Luke Tobias said: “People have been fooled by different groups into paying shares, but under my chairmanship with the new business group, we will give all the dues back to the people.”
Tobias challenged the 33 villages to spend the money wisely and ensure all shareholders were paid in full according to the shares they held.
Group Secretary Steven Merpe told the shareholders to put the money to good use for future benefits.