Wednesday 25th August 2010 |
Text too small? |
State-owned electricity network operator Transpower won’t be paying a dividend to the government this year, despite a 4.6% improvement in profit for the year to June 30.
Transpower reported this morning that its net underlying profit was $142.4 million for the last financial year, an increase of $6.6 million on the previous year’s result, driven by increased transmission charges and the commissioning of national grid upgrades.
“Given the need to fund the extensive capital works programme, no dividend will be paid to the government this year,” said chairman Wayne Boyd.
Transpower’s recently tabled Statement of Corporate Intent shows no return to dividends until 2012, once a $3.8 billion tranche of grid upgrades is completed.
The company’s full results and annual report do not become available until tabling in Parliament, around September 21.
Businesswire.co.nz
No comments yet
TGG - Response to media speculation
ARB - Annual Meeting Date and Director Nominations
CNU - Q4 FY25 Connections Update
MOVE FY25 Results and Investor Briefing 29 August 2025
RYM - First quarter trading update
July 11th Morning Report
IKE Announces equity raising of A$20 million
Chorus full year results date
FPH 2025 Notice of Annual Meeting and Voting Form
July 10th Morning Report