Grants and Distributions

KAUMĀTUA GRANT

Each year the Incorporation provides kaumātua grants for shareholders over the age of 60. This year the shareholders and Committee have approved a sizeable increase in kaumātua grants – doubling what had been previously paid to kaumātua.

This is important to us as we understand and appreciate the value and wisdom of our pakeke and their contribution to Mangatu over their lives.

Kaumātua are paid based on the following age brackets:

  • 60 to 79 years: $200
  • 80 years and over: $400

The Committee and Management aim to provide kaumatua grants no later than the end of the second week of December.

We intend for this dividend to reach our pakeke in time for them all to enjoy the christmas and summer season.

INTERIM DIVIDEND

Along with the kaumātua grants, the Incorporation provides an interim dividend.

This is a pre-payment of the dividend which will be approved by the shareholders at the following AGM. Over the years this interim dividend has remained the same at $0.30 per share.

This year the interim dividend is being lifted to $1.00 per share. This will mean the Incorporation will distribute over $850,000 in interim dividend alone. Coupled with the kaumātua grants this will be a distribution of over $1.3 million – over $800,000 more than previous years.

The Committee and Management also aim to provide this interim dividend no later than the end of the second week of December.

TANGIHANGA GRANT

Hei whakamahara, tangihanga grants are available from the Incorporation to support whanau.  A $600 grant is available to the whānau of a deceased shareholder on application to the office.

It is important to us that Mangatu Blocks Incorporation give this whakaaro when it means most to our whanau, in honor and memory of that person’s life. 

To receive the tangihanga grant whānau should first:

  1. Contact the office (admin@mangatu.co.nz)
  2. We then confirm the deceased is a shareholder who held ten or more shares
  3. We ask for the date of death and where the grant is to be paid, the funeral home or to the whānau. A verified bank account number is sought prior to the payment being made.
  4. These grants are then shared with the Committee for approval at the next meeting.

A tangihanga grant is also available if a member of a shareholder whānau trust passes away. Also requiring ten or more shares. The deceased must be a direct descendant within the trust.