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Do I Qualify for the Entrust Dividend 2024?

Do I Qualify for the Entrust Dividend 2024? With Power Compare
Thursday, June 27, 2024

Winter is a tough time for many Kiwis. Many of us will be looking for ways to best prepare our homes and budgets for the chilly nights and mornings, and the eye-watering power bills

What is the Entrust Dividend?

Entrust Dividend is a great way to ease power bills for some lucky, eligible Aucklanders. Generally, Entrust works by receiving dividends from their shareholding in Vector, and distributing them to their beneficiaries. They manage their majority ownership of Vector on your behalf. In simpler terms, for those enrolled and eligible, you can receive some dividend money. This money is paid directly to your bank account or as a credit to your power account.  

Do I Qualify for Entrust Dividend 2024?

The Entrust divide is set to be paid to all customers on the Vector electricity network in the Entrust District on the roll date each year. There are three conditions to be eligible for dividend this year. 

  • You must be in the Entrust District on the roll date (9 August 2023). The Entrust District covers central, east and south Auckland. 
  • You must be paying Vector electricity lines charges as part of your power bill. 
  • You must be the person named on the power bill. 

When is the Entrust Dividend 2024 Paid?

Entrust has advised that they will be paying dividends to eligible Aucklanders in late September 2024.

How Much is the Entrust Dividend 2024?

A dividend is paid when a company shares its profits with its shareholders. Entrust owns the majority of Vector’s shares. Therefore, when Vector determines their profit sum for last year, it shares the funds with the shareholders such as Entrust. Then, Entrust shares the dividend with 364,000 households and businesses in Tamaki Makaurau. 

The amount of dividend changes each year. It has not yet been determined for 2024. However, last year, in 2023, it was $334 for each household or business. 

Don’t Forget to Compare to Save Money This Winter

One of the most effective ways to save money in the long run and to lower your winter power bill is to compare. This is an especially important habit to get into as power providers continue to announce price increases for 2024. Jump on Power Compare, our user-friendly comparison platform to compare power plans and providers available to you. Get matched with a more suitable plan that better matches your unique household needs and your budget. Why pay more when you can save your hard-earned money? 

Compare Power Plans

Further Reading: 

Power Bill Price Increase 2024

Do I Qualify for Winter Energy Payment 2024?

Can I get Power Credits? Energy Hardship Schemes in NZ

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