Dividend Payment Increase 2019September 10, 2019
Increase in Hawke’s Bay Power Consumers’ Trust dividend payment
A dividend payment of $230 will be paid in late August to all power consumers in Hawke’s Bay who
are connected to Unison Networks Limited (UNL). This annual dividend payment from the Hawke’s
Bay Power Consumers’ Trust (HBPCT) has increased from the 2019 payment of $225.
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 dividend payment 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 which the Trust will be
passing on to consumers. This means the direct financial benefits consumers have received from
Trust ownership since 1999 will be more than $204million. Our commitment is to return the
dividend directly back to the Hawke’s Bay power consumers and this is what we are doing,” said
The cut-off date for determining who is eligible for a payment was 30 June 2020. All those power consumers in Hawke’s Bay who were 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.
Another financial benefit coming consumer’s way is Unison’s 10% reduction in electricity distribution
charges since 1 April 2020. The Trust encourages consumers to shop around for the best deals
offered by electricity retailers and utilise online resources available to help compare retail electricity
plans such as powerswitch.org.nz.
Direct credit registration and update open soon
Last year the Trust established a direct credit option for Hawke’s Bay power consumers to receive
their dividend payment. This system attracted 52% of power consumers to register for the direct
credit option. The Trust is now keen to have the remaining 48% of consumers opt in to the direct
credit system, especially as banks look to phase out the use of cheques.
Next week those consumers already registered for direct credit will be sent an email or text
reminder to check their details and make any changes necessary. Any changes need to be made by
Those who did not register for direct credit in 2019 will be sent registration cards with a new 4-digit
number from Monday 27 July. This will enable beneficiaries to register online, or use the form
provided to manually select direct credit.
“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 to eventually get 100% uptake of this
option. The advantages include early 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”.