Power payout set to top $320

Auckland Energy Consumer Trust beneficiaries could get more than $320 next month. Photo / Mark Mitchell

More than 300,000 Auckland power customers could get more than $320 next month from the trust which is the main owner of the Vector lines company.

The electricity and gas distributor yesterday reported a 16.3 per cent rise in full-year operational net profit to $164.9 million. Its full-year dividend is up from 13.25c to 13.75c.

This should result in trust beneficiaries in Auckland City, Manukau City and parts of Papakura getting at least as much as last year's $320 dividend, and maybe more.

Those whose names are on the power bill, including tenants, can opt to receive a payment by cheque or direct deposit or a credit on their account.

Auckland Energy Consumer Trust chairman Warren Kyd said a meeting early next month would determine the final figure.

He said yesterday's Vector result augured well for a payout similar or better than last year.