Hawke’s Bay Power Consumers Receive Record Dividend
Hawke’s Bay power consumers will receive a record $135 tax paid dividend from their Hawke’s Bay Power Consumer’s Trust as their share of the profits returned by lines company Unison Networks.
Cheques will be posted during the week beginning Monday November 19, 2012.
Trust chairman John Newland the record dividend reflected Unison’s solid performance.
"Trustees are delighted that we are again in a position to pass on the dividend to our local consumers. We also know for sure, that the continuing upgrade and development of infrastructure is not being compromised, in order to achieve this level of dividend."
Unison also owns the distribution networks in Taupo and Rotorua, but the consumers who live in these regions do not share in the dividend distribution.
All profits earned from these distribution regions contribute to the dividend paid to Hawke''s Bay consumers, said Mr Newland.
The Trust retains a part of the dividend for initiatives that help support consumers in keeping their homes warm and safe, contributing $375,000 towards home insulation subsidies during the year.
The Trust has also invested another $1.5 million towards underground electricity cabling in the region.
Earlier in the year the Trust undertook an ownership review with local consumers, which showed overwhelming support for Unison to remain in Trust ownership.
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