Orion funding dividends with debt, accounts show
The Christchurch Council-owned lines company says its dividend ‘aligns with the undertaking agreed in our Statement of Intent’.
Orion is seeking permission from the Commerce Commission for increased lines charges to fund investment.
Christchurch electricity distributor Orion Group is borrowing more money to pay dividends to its council owners, accounts show.
According to the company’s annual report, published today, Orion paid a dividend of $25 million for the year to March and required a similar sum in additional bank
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