Meridian to pay special $521m dividend

State-owned Meridian Energy is to pay a special dividend of nearly $521 million to the Government from the sale of South Island hydro stations Tekapo A and B to Genesis Energy.

Meridian today said it had confirmed the sale process for the stations, which had a sale price of nearly $821 million.

Meridian chief executive Tim Lusk said the special dividend had been approved following detailed analysis of future funding needs.

The sale was part of a package of Government reforms aimed at improving the electricity sector.

NZPA

Comments from our readers

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

December 31st Morning Report
December 30th Morning Report
CHATHAM ROCK CLOSES PRIVATE PLACEMENT
December 29th Morning Report
December 24th Morning Report
Spark NZ announces new receivables financing structure
December 22nd Morning Report
TRU - Commercial Opportunities for Western Europe and Middle East
GEN - General Capital Subsidiary Credit Rating Update
Fonterra updates 2025/26 season Farmgate Milk Price