Christchurch council wants $47m more from its trading companies

Expansion plans at Lyttelton Port Company could be impacted by a council request for additional dividends. (Image: Supplied)

Oliver Lewis

Thu, 18 Apr 2024

To mitigate rates rises and fund services, Christchurch City Council will be asking its commercial arm to frontload dividend payments and provide $47 million extra over the next three years.The move, endorsed by councillors at a meeting on Wednesday, drew a forthright warning from Christchurch City Holdings (CCHL), which controls assets worth more than $5 billion on behalf of the council.CCHL chair Abby Foote – who has repeatedly spelled out the constrained financial position of the group and the need to start paying down its $2.3b of deb...

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