More than 320,000 Aucklanders will get a $345 payout from Vector's dividend.

Entrust owns 75 per cent of the electricity lines and gas distributor, also paid out $345 to each consumer last year.

Today Vector announced a slightly improved dividend - up from 15.5 cents to 15.75 cents per share - that it will pay shareholders. Entrust says it pays out in late September or October. It has a higher number of beneficiaries this year in its area which covers Auckland, Manukau, northern Papakura and eastern Franklin

Beneficiaries are those named on the power bill. See who qualifies here.

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Last year's payout was worth more than $100 million to the Auckland economy.

Entrust ownership of Vector is worth about $2.3 billion.

The organisation (formerly known as the Auckland Energy Consumer Trust) was created in 1993, to ensure that power lines remained in the control of electricity consumers and was established under a trust deed for 80 years.

Vector's net profit rose 84 percent to $274.4 million, which it attributed to increased operating earnings, lower interest costs, favourable derivative movements and the $164 million gain on the sale of Vector Gas.