There’s not much time left for Aucklanders living in the Entrust district to update their payment preferences for this year’s Entrust dividend.

In June 364,000 power account holders – individuals and businesses – were asked to update their payment preferences for the 2024 dividend.

Eligible power customers get to choose how they receive the Entrust dividend, says Entrust Chairman William Cairns.

“Either directly to a bank account, or as a credit to their power account. To be eligible for this year’s dividend, you must be a power account holder connected to Vector’s electricity network as of the roll date.

“We only want to hear from people if they’ve had a change in bank account details or they want to swap payment methods. We need updated details from people by 5:00pm on Friday, 02 August.

“The quickest way to do this is via our secure web platform. If everything is the same as last year, and you’re happy with how you received your Entrust dividend – do nothing,” he says.

The annual Entrust dividend, usually paid in late September provides a $120m+ 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.

William Cairns says that Entrust is a proud majority owner of Vector.

“Vector’s performance underpins our dividend, which we know makes a difference to so many living in our district in these tough times.”

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 www.facebook.com/entrustnz

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.

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