Meridian Energy to pay $521m special dividend
State-owned Meridian Energy is to pay a special dividend of nearly $521 million to the Government from the sale of South Island hydro stations Tekapo A and B to Genesis Energy.
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State-owned Meridian Energy is to pay a special dividend of nearly $521 million to the Government from the sale of South Island hydro stations Tekapo A and B to Genesis Energy.
Meridian today said it had confirmed the sale process for the stations, which had a sale price of nearly $821m.
Meridian chief executive Tim Lusk said the special dividend had been approved following detailed analysis of future funding needs.
The sale was part of a package of Government reforms aimed at improving the electricity sector.
NZPA
Tue, 17 May 2011
Tue, 17 May 2011
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Meridian Energy to pay $521m special dividend
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