Entrust Divvy Day arrives, $110m boost to Auckland economy

Entrust Divvy Day arrives, $110m boost to Auckland economy

More than 327,000 Aucklanders to receive $350

Dividends of $350 are winging their way to more than 327,000 households and businesses in Auckland as the 2017 Entrust dividend distribution gets underway.

The annual payment boosts the local economy by more than $110 million and is New Zealand’s largest dividend distribution. It goes to those connected to Vector’s electricity network in the Entrust district which encompasses Auckland, Manukau, northern Papakura and eastern Franklin.

Entrust Chairman William Cairns, says that it was very pleasing to be able to increase the dividend amount by $5 this year.

“This may not sound like much, but there are more people and businesses living in the Entrust district every year. Population growth, together with the $5 increase means that Entrust is contributing an additional $4 million to the region compared to 2016.

“We know that there is strong support across all of Auckland for Entrust and importantly, that the dividend makes a real difference to those that receive it.

“Most have chosen to receive their dividend via direct credit to their bank account. This group gets access to their money straight away. Others will receive their dividend via a cheque in the post in the coming days depending on mail delivery schedules, or by credit to their power account.”

The dividend distribution comes from Entrust’s majority (75.4%) shareholding in Vector, and has contributed more than $1.5 billion to Auckland since Entrust was formed in 1993.

Mr Cairns says that Entrust is proud to have had such a lasting and positive impact on so many Aucklanders.

If people have any queries about their dividend they should call Entrust on 0508 ENTRUST (0508 368 7878).

ENDS

© Scoop Media