November windfall: Hawke’s Bay power consumers receive $240 dividend

Power consumers have received a $240 dividend. Photo / Warren Buckland

A first round of the annual dividend payment of $240 has been paid to Napier and Hastings power-account holders by the Hawke’s Bay Power Consumers’ Trust.

Power consumers who registered before Thursday, November 16 will receive payment direct to their nominated account from Friday, November 24.

The trust’s chair, Diana Kirton, said consumers who register for their power dividend from Friday, will still receive their dividend payment, but it will not be made in the first round of payments.

“If you haven’t yet registered, or if your bank account or address details have changed in the past 12 months, you will need to register your correct information to receive payment.”

Concerns had been raised around the impact of Cyclone Gabrielle on the payment. However, Kirton said people who had to relocate due to the cyclone were still eligible.

“We also ask that you please look out for whānau and friends who may need help with the registration process. We don’t want anyone to miss out on the $240 they are entitled to.”

At its annual public meeting on July 26, the trust announced it had received a $15.8 million dividend payment from UNL.

This payment brings the total direct financial benefit consumers have received from trust ownership since 1999 to around $250 million.

In recent months the trust considered the three options of retaining the shares (a 100 per cent ownership of Unison), disposing of a proportion, or disposal of all of the shares.

Last week it announced its decision not to sell the shares it has held on the public’s behalf for three decades.

The decision, ending a five-yearly review of the ownership, came at a meeting of the trustees, with just over 20 people present - in line with the requirement that the final deliberation had to be held in public.

About 98 submitters supported the distribution of shares to the consumers; 66 did so via a template provided by Free the Funds, a lobby group opposed to the current retention model.

- For more information head online at hbpct.co.nz