Share
- Release Date: 27/04/12 10:31
- Summary: DIVIDEND: MEL: Meridian Energy declares interim dividend payment
- Price Sensitive: No
- Download Document 2.2KB
MEL
27/04/2012 08:31
DIVIDEND
REL: 0831 HRS Meridian Energy Limited
DIVIDEND: MEL: Meridian Energy declares interim dividend payment
The Meridian Energy Board has declared an interim dividend of $71.3 million
for the six-month period ended 31 December 2011.
This is consistent with Meridian's dividend policy, which targets a payout
ratio of 75% of the Group's adjusted underlying profit after tax. The
dividend will be paid to the Government by 30 April 2012.
Low hydro inflows to Meridian's South Island catchments impacted the
company's operating performance during the six months to 31 December 2011.
Chief Executive, Mark Binns says, "Despite the challenges, our interim result
was sound. Board approval of this level dividend is positive reinforcement of
the company's performance during the period."
Mr Binns adds, "We're continuing our strong record of shareholder returns
while ensuring we have sufficient capacity to fund our future growth plans."
The company's financial performance for the interim period has been reported
and the report is available on our website at:
www.meridianenergy.co.nz/company/investors/reports-and-presentations/
For more information contact:
Amy Lockyer
External Communications, Meridian Energy
021 722 393
About Meridian Energy
Meridian is New Zealand's largest electricity generator and currently owns
and operates seven hydro stations, four wind farms within New Zealand, and
one wind farm in Australia:
o Manapouri power station and six hydro stations on the Waitaki River in the
South Island
o Te Apiti wind farm near Palmerston North
o White Hill wind farm in Southland
o West Wind farm in Wellington
o Te Uku wind farm in Raglan
o Mt Millar wind farm, Eyre Peninsula, South Australia
o CalRENEW-1 solar farm in Mendota, California
Internationally, Meridian has operations in Melbourne, Australia and San
Francisco, California.
Meridian also retails electricity to around 280,000 individual customer
connections (including Powershop) throughout New Zealand, which includes
households, farms and businesses. It also provides electricity to New
Zealand's single largest electricity user, the New Zealand Aluminium Smelter
in Bluff.
End CA:00222250 For:MEL Type:DIVIDEND Time:2012-04-27 08:31:06
