Dunedin City skips dividend from investment arm on Aurora Energy network upgrade

Paul McBeth
Mon, 25 Sep 2017

By Paul McBeth Sept. 26 (BusinessDesk) - Dunedin City Council didn't get a dividend from its investment division this year as the local authority braces for a $721 million decade-long capital investment programme to upgrade Aurora Energy's ageing infrastructure.  Dunedin City Holdings paid $5.9 million to the council in the year ended June 30 through interest payments, but didn't make a dividend payment, as projected in the statement of intent, due to the planned capital expenditure for Aurora, the investment arm said in a statement. The...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Infrastructure
Six year wait for three waters reforms far too long, says Scottish expert
Pattrick Smellie | Mon, 27 Jun 2022

The three waters reform will not prove its worth as quickly as it could if economic regulation is delayed until 2030, says the head of the water regulator for Scotland, the template for NZ's reforms.

Markets
Fletcher wowed analysts at last week’s investor day
Jenny Ruth | Mon, 27 Jun 2022

All five of the analysts’ reports BusinessDesk has seen have either “overweight” or “outperform” investment recommendations on Fletcher shares.

Podcasts FREE
Cooking the Books: why is everything so expensive?
Frances Cook | Mon, 27 Jun 2022

What's behind the soaring cost of living, and what can you do about it?

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

Sponsored
High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.