Transpower trims interim dividend as grid upgrade lifts first-half revenue

Thu, 27 Feb 2014

By Paul McBeth Feb. 28 (BusinessDesk) - Transpower, the state-owned national electricity grid operator, will pay a smaller interim dividend than last year, while lifting its first-half revenue after completing its North Island grid upgrade and commissioning of the Cook Strait “Pole 3” cable project. Transpower will pay an interim dividend of $60 million, down from $92 million a year earlier. It anticipates paying total dividends of $151 million in the 2014 financial year, lower than the $295 million it paid in 2013, according to its Statemen...

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