Email from CCHL boss reveals dividend frontloading trade-offs

CCHL wanted to do some expansions at Lyttelton Port.

Tue, 18 Jun 2024

By extracting higher dividends from its commercial companies to help offset rates rises in the short term, Christchurch city council could end up shortchanging future councils.Christchurch City Holdings (CCHL) chief executive Paul Silk raised the point in an email to the chief financial officer at the council, Bede Carran, on May 13 following a request by the council that CCHL provide an extra $47 million in dividends over the next three years.The request, which was approved by councillors in April, drew a forthright warning from Abby Foot...

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