Entrust announces annual dividend payment will be $360

This year in addition to the $360 Entrust dividend payment, a further payment of $15 from Vector which is customers’ share of the credit received from Transpower, known as loss rental rebate, will be paid to beneficiaries.

Entrust, the majority owner of Vector, today announced its annual dividend will be $360, stemming from its shareholding in the listed energy company.

This year in addition to the $360 Entrust dividend payment, a further payment of $15 from Vector which is customers’ share of the credit received from Transpower, known as loss rental rebate, will be paid to beneficiaries.

The payment will be made to more than 336,000 Aucklanders and businesses in the Entrust district that are connected to Vector’s electricity network in late September.

Entrust Chairman, William Cairns says Entrust is pleased to pay the dividend, which will contribute more than $120 million to Auckland’s economy. “Entrust is determined to deliver for our beneficiaries. We know that some in our community really rely on the dividend and that it makes a difference. A good portion of it will be spent in local neighborhoods, with local businesses, which further benefits local communities.

“There is strong support for Entrust across the Auckland region, with 78% of all Aucklanders believing the Entrust structure should remain in place, using profits from Vector to provide dividends to local households in the Trust area, and 63% saying that their family needs the dividend to meet the rising cost of living in Auckland.

“Entrust is pleased that its work is so strongly supported by the people of Auckland,” he said.