Mercury defends generation build and dividends

Mercury told shareholders it is building new generation at speed. (Image: NZME)

Fri, 20 Sep 2024

Mercury New Zealand defended its rollout of new electricity generation and told its annual shareholders meeting that it would try to help customers facing higher gas costs.Chair Scott St John said recent commentary had suggested that companies such as Mercury have been more focused on delivering dividends than investing in renewable generation.“We believe we can and must do both. In FY24, 42% of our earnings were reinvested in new and existing assets, while 31% was paid out in dividends and 27% paid as interest and income tax,” St J...

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