Communities & Residents (C&R) is pleased to announce that the 2024 Entrust dividend payout has reached a record high, with with almost $130 million paid out to more than 360,000 Aucklanders - the highest total payout to date.
Despite significant population increases year-on-year, $350 to each eligible power account holder is the second-largest pay-out in the last 10 years.
"In a setting where we're all focused on the cost of living and daily pressures, we know this year's Entrust dividend will be welcomed. Heart-warming feedback tells us some use it to pay for new tyres for the car, some to take the family out to a nice dinner, and others enjoy one month's free power. Protecting and enhancing the dividend is our core focus," says current Entrust Chair and C&R Candidate Denise Lee.
The record-high 2024 total dividend demonstrates the benefits of C&R leadership of Entrust.
Only C&R will continue to protect the dividend, prioritise affordable and reliable power supply, back Vector’s investment into new energy solutions, ensure a sensible transition to a low carbon energy future, and retain consumer control of Vector.
"72% of powerlines have now been undergrounded in the Entrust area and we've overseen a 19% reduction in carbon emissions from Vector since 2020. While distributing a dividend is core business, we want to see other gains too" said Ms Lee.
C&R’s key priorities for the next term include:
• Keeping Dividends in Beneficiary Hands
• Maintaining Lowest Possible Electricity Prices and Network Reliability
• Increasing Funding for Undergrounding Power Lines
• Supporting Vector’s 2030 Carbon Emissions Reduction Commitments
• Investing in Low-Carbon Electrification
• Committing to Retaining Ownership of Vector
• Ensuring Strong Corporate Governance
Now more than ever, it is crucial to re-elect a strong C&R team that will deliver for Aucklanders.
The Entrust election will be held between 10-25 October 2024 via postal ballot. Power account holders paying Vector electricity lines charges as part of their power bill within the Entrust District will have the opportunity to vote.
