2018 Largest Dividend Process Begins this Month by Entrust
If you’re one of 327,000 Kiwis who is an Entrust consumer, you’ve probably received your dividend payment preference form by now.
The form allows people to receive a payment option that they prefer for the annual dividend which will be paid in late September.
Last year, the dividend was $350. Not only did the amount help support many households, but it also boosted Auckland’s economy by more than $110 million.
Do You Qualify for an Entrust Dividend Payout?
If your name was on the August 2 power bill for a home and/or business in the Entrust district (encompassing Auckland, Manukau, northern parts of Papakura and eastern Franklin) that is connected to Vector’s electricity network, you will probably be receiving this year’s dividend.
Entrust has a 75.1 percent shareholding in Vector. When Vector pays a dividend, almost the entire dividend is passed on to Entrust consumers.
Choose the Payment Option that Suits You Best
Payment method options on the form include cheque, direct credit to your bank account or a credit to your electricity bill. The most convenient way, via direct credit, allows consumers to receive the money without waiting for a mailed cheque or visiting the bank.
For the most part, only people who want to change their payment method will need to respond to the letter.
Ensuring the Payment Process Goes Smoothly
Want to guarantee that the payment process will be a smooth one in September? Check that the following two tasks are completed:
- Ensure the name of the Entrust form matches the name on your bank account. If it doesn’t, get your electricity retailer to update your account name.
- If you want to change the payment method, return the form by Monday, August 6.
What Will You Do with Your Dividend Payout?
What to do with your dividend, which is normally a significant amount for most households, is entirely up to you!
Whether you choose to pay off a bill, put it aside for Christmas or enjoy a weekend away, go ahead – enjoy!
If you have not received your form by now or have any questions regarding the dividend process, check out the help page found here.
As the payment comes via the lines company, it is not affected by the retailer you use. So ensure you’re paying the best rate for your household’s energy costs! Contact Switchme today for a comparison and more details about our energy switching services.