Entrust (formerly called the Auckland Energy Consumer Trust), the private trust that owns the majority of Vector on behalf of its beneficiaries. The private trust Entrust, formerly known as the Auckland Energy Consumer Trust, owns the 75.1% of shares in Vector on behalf of its energy consumer beneficiaries in central, east, and south Auckland(Entrust District). These beneficiaries are paid a cash dividend each year, usually in late September.

This year again, Aucklanders within the Entrust District, will be getting their share of Entrust’s 2022 annual dividend payment. All they have to do is double check the payment details on Entrust’s payment preference forms being sent out this week.

Entrust Chairman, William Cairns says; “Not many of us really enjoy filling out forms, but you will be well rewarded for the few minutes it takes to check your payment details are correct on this form! For most people, it will be as simple as making sure their details haven’t changed from last year.”

Those receiving the forms get to choose whether they want the September dividend payment credited to their bank account or used as a credit on their power account. For those who are not sure if they are eligible for this payment, there is a map and list of eligibility criteria along with answers to commonly asked questions at www.entrustnz.co.nz.

Whether your form arrives via email or in the post, Entrust will need to receive any updated payment details by no later than Friday 05 August.

The 2022 Entrust dividend will be paid in late September. The payment amount varies each year and is based on the annual profits generated by Vector of which Entrust is the majority shareholder.

The Entrust dividend is New Zealand’s largest dividend pay-out, with over $2 billion paid out to Aucklanders since 1994. Last year, 346,000 households and businesses received $283 plus an extra $20 from Vector, injecting over $97 million into the Auckland economy.

“We know it’s been another really tough year for so many Kiwis. As an Entrust Trustee it is heart-warming to read the messages of thanks from those who have previously received the cash payment into their bank account or as a credit on their power account. They tell us how the payments have made their lives just a little bit easier –helping cover the costs of basics such as petrol, school uniforms and groceries, or even a treat like taking the family out to dinner and the movies,” says Mr Cairns.