Landowners share K1mil in dividends


RAMU nickel landowner umbrella company Raibus Group paid out K1 million in dividends to its four landowner companies on Thursday.
It was the first time that Raibus had paid dividends in its 12 years of operation.
Chairman Steven Saud said the companies that received divident payments were Kurumbukari Ltd, Basamuk Enterprise, Maigari Ltd and Wassmatau Ltd.
They represent the people of Kurumbukari mine, inland pipeline, coastal pipeline and Basamuk refinery respectively.
Kurumbukari Ltd received 40 per cent, Maigari 20 per cent, Wassmatau Ltd 20 per cent and Basamuk Enterprise 20 per cent.
Saud said the payment was a milestone for the Raibus Group.
He said Raibus had security, engineering, catering, real estate and labour contracts with Ramu nickel mine.
Saud said the company had gone through a lot of struggles to manage the business and keep up with landowner demands.
“However, with an overhaul in management, we managed to fix issues and improve,” he said. “As a result, we achieved this.”
Kurumbukari Ltd chairman Tobby Bare, representing the four landowner companies, thanked Raibus for the dividend payment.

One thought on “Landowners share K1mil in dividends

  • A breakthrough. Hope to hear more of same in the years ahead.
    Good news.
    Thanks to Steven Saud and the team.

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