Infratil will pay a final dividend of 5 cents per share, taking the annual payout to 8 cents, up from 6.75 cents in 2011. 

The utility boosts underlying annual profit 16% to achieve wider margins while shedding customers in a tight retail market.

Infrastructure investor Infratil has reported a 12% fall in net profit for the September half year but its earnings rose 7% and the company remains on track to meet full year guidance.

Trustpower stands to gain from plummeting electricity prices, according to Forsyth Barr specialist analyst Andrew Harvey-Green – while Contact Energy and NZ Windfarms will be feeling the strain.

Both wholesale spot electricity prices and future EnergyHedge prices, already low, fell further in September due to heavy rain and high lake levels. 

TrustPower (NZX: TPW) is considering a bond issue of up to $100m in a bid to repay debt and boost its maturity profile.

In a statement to NZX today, the electricity generator said it intends to offer up to $75m in senior bonds with the option to accept up to $25m in oversubscriptions at TrustPower’s discretion.

The senior bonds will have a term of about seven years, maturing on 15 December 2017.

An aggressive Genesis Energy advertising campaign has earned a slap on the wrist from the Advertising Standards Authority (ASA).

The campaign, in print and online during April and May this year, targeted Queenstown customers using the phrase “with lower electricity rates than Trustpower, we can save you money”.