Free InsulationSeptember 5, 2019
Increase in Hawke’s Bay Power Consumers’ Trust dividend payment
A dividend payment of $225 will be paid to all power consumers in Hawke’s Bay who are connected to Unison Networks Limited (UNL) later this year. This annual dividend payment from the Hawke’s Bay Power Consumers’ Trust (HBPCT) has increased from the 2018 payment of $220.
Trust Chair, Diana Kirton, said that the Trustees have shown a strong commitment to return as much of the annual dividend as possible directly back to the Hawke’s Bay power consumer. We are pleased to have seen the return rise steadily over the past few years.
The HBPCT holds the shares in UNL on behalf of the consumer shareholders. Each year the Trust receives a dividend payment from Unison based on the annual profit of the company.
“The company has returned a $15.8million dividend to the Trust this year. This means the direct financial benefits consumers have received from Trust ownership since 1999 will be more than $188million. Our commitment is to return the dividend directly back to the Hawke’s Bay power consumers and this is what we are doing,” said Kirton.
The cut-off date for determining who is eligible for a payment is 30th September 2019. All those power consumer in Hawke’s Bay who are connected to the network on that date will receive one payment per connection, with a maximum of three payments for any one customer. “Every year there is a handful of customers affected by this date. Some people commence a new connection within days of the cut-off and therefore are not eligible to receive a payment. For others it works in their favour,” Kirton said.
Direct credit option will be available this year.
The Trust is currently establishing a direct credit option for Hawke’s Bay power consumers to receive their dividend payment. This system will be open for registering to in mid-October. At that time all Hawke’s Bay power consumers will receive a 4-digit pin number in the post. This will allow them to go online, register their details and have the dividend paid directly to the bank account of their choice.
“We will ensure that the process is advertised widely and support available for those needing guidance to register for the direct credit option. This is an opt-in initiative and those who choose not to register will receive their cheque by mail as usual” said Kirton. “We are hoping for a strong uptake of this option. The advantages include immediate receipt of the money to the power consumer, no long queues at the bank, no risk of losing the cheque, plus the opportunity to deposit the dividend into a bank account of your choice”.