Last year Horizons Regional Council were paid $1 million from Wellington's port company but for the next three years it won't receive a cent.
In a meeting early this month, between Horizons and CentrePort, the port company announced it was undergoing a "costly revamp" after the damage from the November earthquake took its toll.
Horizons has a 23.6 per cent share in the port, which it jointly owns with Greater Wellington Regional Council.
Horizons Chairman, Bruce Gordon, said while insurance was being processed and the initial stages of the revamp were getting underway he imagined it would be three years of receiving no dividends as all the money will be invested into the redesign.
"We think three years worth of dividends is a justified sacrifice for a long term investment gain."