Tainui Group Holdings pays 10th anniversary record dividend

Wed, 27 Jun 2012

By Pattrick Smellie June 27 (BusinessDesk) - Tainui Group Holdings, the commercial wing of the main Waikato iwi Tainui, has declared a record dividend for its tribal shareholders at the end of its 10th year of operations. The $11 million dividend is symbolic for lifting returns to the iwi above the designated level of $10 million, settled on in 2006 as part of a turnaround strategy after poor early investment of Treaty of Waitangi settlement claims cost Tainui $40 million and dried up bank funding. The combined after-tax profits of TGH and...

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