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Auckland, July 12, 2024
Entrust started its dividend payment process last fortnight, which will see 364,000 Central, East, and South Aucklanders receive a dividend in September.
Letters and emails are winging their way to Aucklanders in the Entrust District asking for 2024 payment preferences so that when dividend payment time comes, things go smoothly, Entrust Chairman William Cairns has said.
“It is a massive exercise to get ready to pay the dividend, and we’re doing everything we can to make things really easy,” he said.
Three Easy Steps
There are three easy steps to getting the 2024 dividend:
Please check your letterbox or email inbox for the Entrust form.
If account holder details are correct and you do not want to change the payment method (direct credit to bank account/credit to power account), do nothing. Otherwise, update payment details online via the Entrust secure web platform, by 5 pm on Friday 02 August. Change all other details such as account name with the electricity retailer.
To receive all future Entrust communications via email, check and update email details with your electricity retailer.
Eligible power customers get to choose how they receive the Entrust dividend; either directly to bank accounts, or as a credit to power accounts. To be eligible to receive the 2024 dividend, you must be a power account holder connected to Vector’s electricity network as of the roll date.
Stimulating the economy
Mr Cairns said that Entrust launched its secure web platform last year allowing people to update their bank account details online.
“Having the platform offers a better and more streamlined experience for our dividend recipients, as well as being more sustainable. It’s the quickest way to update payment preferences for the Entrust dividend,” he said.
The annual Entrust dividend provides more than $120 million in cash injection to communities in Central, East and South Auckland.
Since 1994, these communities have received more than $2 billion in dividends from Entrust that come from its majority ownership of listed energy company Vector.
For those unsure about their eligibility for this payment, check out the map and list of eligibility criteria along with FAQs at www.entrustnz.co.nz or
About Entrust
Entrust (formerly called the Auckland Energy Consumer Trust), is a private trust that owns the majority of Vector on behalf of its beneficiaries.
Entrust owns 75.1% of shares in Vector which are held in trust for energy consumer beneficiaries in Central, East, and South Auckland. These beneficiaries are paid a cash dividend each year, usually in late September.
The Organisation was created in 1993 to make sure power lines remained in the control of electricity consumers and was established under a trust deed on behalf of electricity consumers in the area previously served by the Auckland Electric Power Board.
