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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Property

Du Val pair ordered to pay costs

The Clarkes are to pay the markets regulator following the asset seizure hearing.

Maria Slade 1:00pm

Property

Auckland developer collapse leaves $40m in debt

Between all firms, debts with the IRD are about $25 million.

Gregor Thompson 11:56am

Auckland developer collapse leaves $40m in debt

Markets

Trump's trade war hits the NZX

The kiwi dollar fell to a six-month low against the greenback.

Rebecca Howard 11:40am

Sponsored

The risks of powering New Zealand’s data boom

Sydney has curbed data centres to save power and water. Can New Zealand plan more wisely?

Dentons

Sponsored

Spedding Rd powers Auckland growth

$56m in new infrastructure unlocks business opportunities.

Oyster Capital Spedding Road

More Infrastructure

Infrastructure

Aratere sold for scrap, price deemed commercially sensitive

The Aratere ferry has been sold to a specialist recycling shipyard in India for an undisclosed amount.“Details of the sale price are commercially sensitive,” Duncan Roy, executive general manager of Interislander, said. The ferry was retired last August to make way for the port...

Rebecca Howard 10 Oct 2025