25 September 2019
The annual Entrust dividend is being paid this week to 336,000 homes and businesses in Auckland.
It is New Zealand’s largest dividend distribution and delivers more than $120 million into the Auckland economy.
This year’s dividend is $360, plus a further payment of $15 from Vector which is customers’ share of the credit received from Transpower, known as loss rental rebate.
The dividend is made possible through Entrust’s majority shareholding in infrastructure company Vector.
“By maintaining our stake in Vector, Entrust is able to support our community through the dividend, which we know makes such a difference to so many. Entrust is proud to have had such a lasting and positive impact on Aucklanders and the Auckland economy - to the tune of $1.7 billion – since 1993, when the trust was formed,” says Entrust Chairman, William Cairns
Mr Cairns notes that over the past 25 years Entrust dividends have increased from $115 to the current year’s $360, even though population growth means it is paid to more people every year.
“This year, our Entrust Dividend is going to 4,500 more people than last year and is the highest number ever at 336,000.”
Most people have chosen to receive their dividend via direct credit to their bank account, and this was paid on Wednesday 25 September. Cheques were also posted that day and people are advised to watch for it in the mail. People receiving the dividend as a credit on their power account will see it on the next available power bill.