Sharechat Logo

Transpower to pay government special div of $65.7M from d-cyphaTrade sale

Wednesday 26th June 2013

Text too small?

Transpower, the state-owned electricity grid company, will pay a special dividend of $65.7 million to the government this month after concluding the sale of derivatives trading unit to ASX in May.

The grid company sold d-cyphaTrade to Australian stock market operator ASX for A$55 million. It set the business up in 2002 to promote Australian exchange-traded electricity futures and to sell related training and information products.

"D-cyphaTrade and its future development opportunities were not core business for Transpower," chairman Mark Verbiest said in a statement.

D-cyphaTrade had income of $10.4 million in 2012, down from $12.7 million a year earlier.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

TrustPower, Ngai Tahu Holdings may invest $106M in Ruataniwha water scheme
TrustPower generated less energy for fewer customers in the first quarter
Transpower sells derivatives trading unit d-cyphaTrade to ASX for A$55 mln
TrustPower pays $13.7 million for Energy Direct NZ to widen customer base
TrustPower FY earnings fall 6 percent on dwindling customers, thinner margins; shares gain
TrustPower sets interest rate on seven- year bonds
TrustPower looks to raise $125M in bond sale
Transpower runs $30 million over budget on North Island upgrade
TrustPower pushes margins, sheds customers for 16% earnings rise