17 June 2016
Entrust (formerly Auckland Energy Consumer Trust) is getting ready to pay its annual dividend to beneficiaries
Approximately 320,000 Auckland electricity customers will be contacted this week about Entrust’s annual dividend payment worth several hundred dollars.
Entrust wants to make sure those who qualify receive their dividend as easily and quickly as possible.
The dividend is paid in September to homes and businesses connected to the Vector electricity network in the catchment zone encompassing Auckland, Manukau, northern parts of Papakura and eastern Franklin. Customers in these areas were historically the customers of the old Auckland Electric Power Board and are beneficiaries of Entrust.
“We want to make everything as easy as possible for the many thousands of dividend recipients. Let us know how you’d like to receive your money,” says Entrust Chairman Williams Cairns.
To make sure you receive your dividend:
√ Check the name and details on your power bill are correct
√ If they’re not, contact your electricity retailer to change them
√ Ensure your bank account is in the same name as your power bill
√ Organise direct credit for the fastest and easiest payment
√ If you need to change your details, get your form back to Entrust by 8 August.
“You will still receive a cheque if your power account details don’t match your bank account. But, we want to save you a trip to the bank and the wait for funds to clear before you collect your money,” says Mr Cairns.
“We know that the dividend makes a real difference to those who receive it. Last year the dividend was $345. That’s a significant amount for most households and Entrust is proud it can have such a positive impact on the lives of so many Aucklanders,” he says.
Entrust is the new name for the Auckland Energy Consumer Trust (AECT). A combination of energy and trust, Entrust is a private trust that owns a 75.4% majority shareholding in Vector on behalf of its 320,000 beneficiaries and pays a dividend to those beneficiaries each year. Over the last 20 years the dividends have contributed more than $1 billion to the Auckland economy.
Update forms have now been sent out to all beneficiaries and will be appearing in mailboxes shortly. The form allows people to sign up to receive their dividend by direct credit if they have not done so already. It is also an opportunity for beneficiaries to check their details are correct so they can receive payment in September.