Lit­tle ex­tra for 313,000 en­ergy trust con­sumers

Auckland City Harbour News - - NEWS -

En­ergy users have more in the pocket af­ter the div­i­dend pay­out by the Auck­land En­ergy Con­sumer Trust.

The in­de­pen­dent con­sumer trust and ma­jor­ity owner of in­fra­struc­ture group Vec­tor Ltd an­nounced an in­creased an­nual div­i­dend of $330 per ben­e­fi­ciary, up from $320.

The 2013 div­i­dend was sent to the more than 313,000 in­come ben­e­fi­cia­ries in the AECT dis­trict last week.

Ben­e­fi­cia­ries are Vec­tor elec­tric­ity cus­tomers in Auck­land, Manukau and the north­ern part of Pa­pakura.

The trust, formed in 1993, has re­turned more than $1 bil­lion in div­i­dends to its in­come ben­e­fi­cia­ries dur­ing the past 20 years.

‘‘Trust own­er­ship over the past 20 years has en­sured that Vec­tor has been able to grow and di­ver­sify, and in do­ing so re­turn an in­creas­ing div­i­dend to share­hold­ers, in­clud­ing the thou­sands of AECT in­come ben­e­fi­cia­ries,’’ trust chair­man Wil­liam Cairns says

Mr Cairns says Auck­land’s econ­omy will re­ceive a $105 mil­lion boost from the pay­ment.

This year the num­ber of el­i­gi­ble in­come ben­e­fi­cia­ries grew by 1236.

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