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:

Deposit scheme reduces risk, boosts trust - General Finance
May 12th Morning Report
PFI - Q3 Div & Upgraded FY25 Div Guidance, FY26 Div Guidance
AIA - Auckland Airport announces leadership team change
May 9th Morning Report
May 8th Morning Report
NZME Takeovers Panel determination
MNW - Commerce Commission clears the Contact Energy acquisition
May 7th Morning Report
General Capital Appoints New CFO