Unison declares a $15.8 million dividend for 2020/21

July 22, 2021 03:48 PM

Unison Networks has delivered a strong performance for its customers declaring a $15.8 million final dividend for its shareholders, the Hawke’s Bay Power Consumers’ Trust.

The Company released its annual report today, which showed despite the global uncertainty caused by COVID-19, Unison Group’s overall financial performance for the year was more favourable than expected, with net profit after tax of $33.0 million.

Unison Group Chair, Philip Hocquard, said the Board were pleased with Unison’s results.

“Throughout the year, including all stages of the government lockdowns, the Company remained committed to its purpose of enabling communities to prosper, by delivering customers’ energy needs through a dynamic, flexible and sustainable electricity system.”

He said the Company maintained focus on embedding sustainability as a cornerstone of the business.

“Unison has an important role to play by providing a resilient network and response capability to more frequent and extreme weather events and enabling consumers to contribute to environmental sustainability through access to renewable energy sources.”

Unison Group Chief Executive, Ken Sutherland said Unison continues to take a leading role in the electricity distribution industry.

“During this reporting period, Unison completed the design of an innovative sustainable zone substation while planning the replacement of the 11kV switchboard at Windsor zone substation.”

He said the electricity network continued its strong performance this year, which reinforces the positive impact that Unison’s smart network investment is having on its asset performance and visibility.

“This assists us in delivering a safe, reliable supply to customers” said Mr Sutherland.

Unison Group Chair, Philip Hocquard, said the Board and management are confident that Unison’s business and operations are well managed, and the company is in a sound position to meet the challenges and opportunities ahead.”
2020-21 Key Financial Highlights:

  • Total Group Revenue - $242.5m
  • Net Profit After Tax - $33.0m
  • Capital Expenditure - $57.1m
  • Final Dividend - $15.8m

Please refer to Unison’s Annual Report for full details www.unison.co.nz/annual-report

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