$800m Meridian dividend paid to Government

Meridian Energy has paid its $800 million dividend to the Government.

The dividend stemmed from state-owned Meridian's profit from the sale of Australian power company Southern Hydro.

The Government announced in this month's budget it would use the windfall to boost road spending.

Meridian chief executive Keith Turner and board chair Wayne Boyd today handed over a giant replica cheque to Finance Minister Michael Cullen.

Dr Turner advised Dr Cullen to spend it carefully.

Dr Cullen said the money was already effectively spent, but what he would do with the approximately 1m by 2m replica cheque remained uncertain.

"I might take it home," he said.

- NZPA