359,000 Aucklanders to receive $364 boost

2023 Entrust dividend payment announced

20 September 2023

At a time when it seems there’s not much good financial news, thousands of Auckland households and businesses will be happy to hear that the annual Entrust dividend is now being distributed to eligible beneficiaries in central, east, and south Auckland.

The total payment of $364 consists of this year’s Entrust dividend of $334, plus $30 from Vector. Depending on the beneficiary’s chosen payment preference option, this amount will either be paid directly into their bank account or credited to their power account.

Entrust is the majority shareholder of Vector and each year its beneficiaries, Vector customers within the Entrust District, are paid a cash dividend. Representing New Zealand’s largest dividend distribution, over $2 billion dollars has been distributed by Entrust since 1994. This year will see $119.9 million injected into the Auckland economy.

“It’s heart-warming to think of the smiles that the Entrust dividend will likely be received with when 359,000 eligible Aucklanders spot it in their bank account, or as a credit on their power bill,” says Entrust Chair, William Cairns. “Many Aucklanders have been doing it tough again this year, so this payment has been long anticipated. It’s great to share the good news that a little help is on its way.”

Anyone who was an Entrust beneficiary on Wednesday 9 August is eligible for this year’s payment. People are eligible where, on that date, they were the person/s named on the power bill (which included paying Vector electricity lines charges). They must also have been located within the Entrust District of central, east, and south Auckland. 

Payment of the Entrust dividend is made directly to bank accounts or power accounts. If Entrust did not have enough information to make the payment, beneficiaries will be sent a dividend notification asking for bank account details so the dividend payment can be completed.

Cairns added; “We really hope this small financial boost will make things just that little bit easier for those receiving it.”