Are you eligible for the Entrust dividend? Not sure if you should have received the Entrust dividend? There are 3 conditions you need to meet.
The first condition is about the eligibility date. Please note, that date changes every year. The following information includes the eligibility date for the 2017 dividend. Although the date changes each year, the basic rules remain the same every year.
The following information applies to 2017 dividend.
The Entrust District is: Auckland, Manukau, northern Papakura and eastern Franklin.
Yes: If you were in the Entrust District on the roll date (2 August 2017) you should be eligible for the dividend so long as you meet the other conditions.
No: The roll date for eligible beneficiaries was 2 August 2017. If you weren't living in the Entrust District on that exact date, you are not eligible for the dividend this year. This applies even if you had been in the Entrust District for most of the year. You have to be living in the District on the roll day.
Vector is the company that owns the power lines network in the Entrust District. Vector electricity lines charges are usually included in the power bill you receive from your electricity retailer. It doesn’t matter which electricity retailer you use.
But some new residential or commercial developments and some apartment buildings do not use the Vector electricity network. People in these places are not customers on the Vector electricity network and are not eligible for the dividend.
Places that are not connected to the Vector electricity network include:
Check with your electricity retailer or the property manager to see if your power bill includes Vector lines charges.
Yes: The dividend is paid to the person/s named on the power bill
No: The dividend is paid to the person/s named on the power bill. If your name was not on the power bill on the roll date (2 August 2017), you are not eligible for the dividend. The person or organisation (such as a body corporate, letting agency or landlord) named on the power bill will have received the dividend. This includes rental agencies such as:
IMPRESSION REAL ESTATE
AUCKLAND CITY LIVING MANAGEMENT
DC ARDERN COLLECTIVE
ELECTRICITY DIRECT (SMART POWER)
This may include apartments in buildings such as:
THE FEDERAL CITY APARTMENTS
HARVARD ON HOBSON APARTMENTS
HARBOUR GREEN APARTMENTS
ST PAUL APARTMENTS
32 EDEN CRESCENT
508 QUEEN ST
22 BERESFORD SQUARE
COUNTRY CLUB APARTMENTS LTD / QUEST ON MOUNT
ELLIOTT STREET APARTMENTS
HARBOUR CITY APARTMENTS
Please note that the dividend IS paid to customers in these buildings who do have power bills in their own name from electricity retailers such as BOSCO, Contact, Energy Online, Genesis, Mercury, Meridian, Powershop, Pulse or TrustPower.
But if your electricity is included in your rent or management costs you may not be eligible and the person or organisation who pays the power bill for you may receive the dividend.
Check with the person or organisation that pays the power bill for you.
Yes: If you moved outside the Entrust District any time before 2 August, you won't be eligible for the dividend. The Trust Deed that governs payment of the dividend does not allow for part payments or pro rata payments of the dividend, even if you were in the Entrust District for most of the year. You have to be in the District on the roll day.
If you were in the Entrust District on 2 August but moved since then, the dividend may have gone to your old address. Please check the mail with the people at your old address.
If you recently moved into (or within) the Entrust District and had a power bill in your name on 2 August for your new address, you should be eligible for the dividend. First, check that you do have a power bill that covers 2 August for your new address inside the Entrust District. If you weren't paying a power bill in the Entrust District at that date, you won't be eligible.
No: If you haven't moved, and the power bill was in your name on 2 August and you're a customer on the Vector electricity network, you should have received the dividend. Check if someone else at your address has seen the dividend or the leaflet that came with it, which looks like this.
If you are eligible for the dividend but haven’t received it, please call us for more help on 0508 ENTRUST (0508 368 7878).
There are two types of Entrust beneficiaries: income beneficiaries and capital beneficiaries.
Are you in line for a dividend? Find out below.
People and organisations that receive an Entrust dividend are called income beneficiaries, because they benefit from Entrust’s majority shareholding in Vector by receiving a dividend (that’s the income).
Entrust income beneficiaries are made up of Vector Electricity customers in the Entrust District which is Auckland, Manukau, northern Papakura and eastern Franklin (the old AEPB area). Entrust has more than 320,000 income beneficiaries, making it the largest consumer trust in New Zealand.
Check this map to see if your home or business is inside the Entrust area.
Entrust capital beneficiaries don’t receive a dividend, but will become the owners of the Entrust’s assets when the Entrust is wound up in 2073 (this was part of the Trust Deed that established the Entrust). The capital beneficiaries will be the local authority or authorities that exist in the Entrust District in 2073.