Transpower to pay govt special $65.7m dividend from d-cyphaTrade sale
State-owned electricity grid company Transpower will pay a special dividend of $65.7 million to the government this month after concluding the sale of derivatives trading unit to ASX in May.
The grid company sold d-cyphaTrade to Australian stock market operator ASX for $A55 million.
It set the business up in 2002 to promote Australian exchange-traded electricity futures and to sell related training and information products.
"D-cyphaTrade and its future development opportunities were not core business for Transpower," chairman Mark Verbiest says in a statement.
D-cyphaTrade had income of $10.4 million in 2012, down from $12.7 million a year earlier.