Media Release
Kaikohe, Friday 24 October 2008
Trust refines dividend entitlement for 2008 pay-out
The Top Energy Consumer Trust will again be paying a dividend to Far North power consumers.
The payment, of $200 for most households, is their share of the $5 million dividend paid by Top Energy to the Trust,
from its profits for the year ended 31 March 2008.
To be entitled to a share, power consumers will have been connected to Top Energy’s lines network on 26 October 2008 and
have contributed a minimum of $200 in annual line charges to the company, via their power account, during the year ended
31 March 2008. The need for a consumer to have paid at least $200 during the year is a new requirement from previous
years.
The amount individual households will receive this year is in line with Trust payments in previous years.
Commenting on why the Trust has slightly changed its entitlement procedures to include a minimum line charge
contribution, Top Energy Consumer Trust Chairman, Robin Shepherd said, “Top Energy has invested over $70m in our Ngawha
Power Station expansion and on strengthening and maintaining our lines network. So we need to make sure we sensibly and
responsibly manage our available funds. It is only fair that a power consumer should contribute at least $200 revenue to
Top Energy before receiving a dividend in return”. Where a consumer has a connection point with very low power
consumption they will, in most cases, have other connections for which they will receive the usual dividend”, Shepherd
added.
Dividend cheques will be mailed to consumers shortly before Christmas, as is usual for the Trust’s annual dividend
pay-out.
ENDS