Thousands of Auckland households and businesses are in for a windfall as the annual Entrust dividend is now being distributed to eligible beneficiaries in central, east, and south Auckland.
This year’s Entrust dividend is $273 plus an added bonus of $30 from Vector. This brings the grand total landing in peoples bank accounts or as a credit to their power account to $303. The payment from Vector is due to a credit Vector has received from Transpower.
Entrust is the majority shareholder of Vector and each year its beneficiaries, Vector customers within the Entrust District, are paid a cash dividend. As New Zealand’s largest dividend pay-out, over $2 billion dollars has been distributed by Entrust since 1994. This year will see $95.8 million injected into the Auckland economy.
“The Entrust dividend couldn’t come at a better time for many eligible Aucklanders,” says Entrust Chair, William Cairns. “It has been another tough year and we know the dividend payment will put a big smile on 351,000 faces as cost-of-living increases continue to take a toll.”
Everyone who was an Entrust beneficiary on 10 August 2022 is eligible for this year’s payment. People are eligible where, on that date, they were the person/s named on the power bill paying Vector electricity lines charges as part of their power bill 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, people will be sent out a dividend notification form. The form will need to be completed with their bank account details and either emailed or posted back to Entrust in order for payment to be completed.
Cairns adds; “We understand that this payment will not change the circumstances of those doing it tough, but we do hope this will help to alleviate some pressure on stretched family and business finances during these tough times.”