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

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...

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