Record $150 dividend for Hawke’s Bay Power Consumers

Hawke’s Bay power consumers will receive a record $150 tax paid dividend from their Hawke’s Bay Power Consumers’ Trust as the share of profits returned by lines company Unison Networks. Cheques will be posted over the week starting Monday November 18, 2013, injecting $8.7 million into the local economy before Christmas.

Trust chairman John Newland said the $150 dividend reflected Unison’s ongoing solid result in both financial and network performance. It is the highest payout consumers have received, with the dividend increasing 50 per cent since 2008.

The Trust was delighted to pass on the record dividend to local consumers, while ensuring that the ongoing upgrade and development of the electricity infrastructure was not being compromised, he said.

 

Consumers are being encouraged to deposit cheques through their banks’ express banking box, to help speed up the processing and to avoid queuing. Consumers must deposit cheques into an account with the same name.

 

“With thousands of cheques going out, we want to help make the process as simple and quick as possible for consumers and for banking staff,” Mr Newland said.

 

This year all banks across the Hawke’s Bay region will have signage to help identify where the express deposit box was in each branch to help consumers.

 

Jo Salamonson, manager at the BNZ store in Havelock North (pictured) said express banking is a simple and quick deposit system to avoid waiting at your bank.

 

“All you need is to place your cheque and bank account deposit form in the envelope provided and put it in the box. The other option is using the ATM at your bank, use your deposit card and just follow the instructions on the screen”.

 

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 $400,000 towards home insulation subsidies during the year.

 

The Trust has also invested another $1.5 million towards the underground cabling of electricity in the region.

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For more information please contact:
John Newland
Trust Chairman 
027 443 2439