Ports of Auckland cuts dividend, ex-CEO gets $1m payout

Ports of Auckland cuts dividend, ex-CEO gets $1m payout
We're all 'caught up', says the port. (Image: BusinessDesk)
Brent Melville
Ports of Auckland has cited tough pandemic conditions as it cuts its annual dividend to the Auckland Council by $1.2 million, to $3.7m, for the year to June, about the size of its ex gratia payment to former chief executive Tony Gibson.Last year, it slashed its dividend to its owner by three-quarters to $4.9m, from a pre-covid dividend in December 2018 of $18.6m. No interim dividend was declared at the halfway stage.Gibson stepped down at the end of June after coming under fire for the port’s poor health and safety record, as well as cost...

More Infrastructure

Port of Tauranga ‘reluctantly’ doubles MetroPort rail fees
Primary Sector

Port of Tauranga ‘reluctantly’ doubles MetroPort rail fees

The port says it's working with KiwiRail on 'long-term arrangements'. 

Oliver Lewis 04 Jul 2025
‘Bluewater backbone’: Lyttelton, Auckland ports plan $1b+ of upgrades
Policy

‘Bluewater backbone’: Lyttelton, Auckland ports plan $1b+ of upgrades

Two of the biggest NZ ports are raising prices as they plan major investments.

Oliver Lewis 02 Jul 2025
Cost of Ōtaki to north of Levin highway nears $2b
Infrastructure

Cost of Ōtaki to north of Levin highway nears $2b

In 2020, the lower North Island expressway was costed at just $817m.

Oliver Lewis 01 Jul 2025
The keys to unlocking Northport's land value
Infrastructure

The keys to unlocking Northport's land value

MMH's land is valued at five times less than its next-door neighbour, Channel.

Ian Llewellyn 30 Jun 2025