• Unison declares $15.8 million dividend

Unison declares $15.8 million dividend

Unison Networks has declared a $15.8 million final dividend for its shareholders, the Hawke’s Bay Power Consumers’ Trust.

Trust Chair Diana Kirton said the announcement of a $15.8m dividend for the 2021/22 financial year to the shareholders reflects the prudent management of the company over this period.

The Trust holds all the shares in Unison on behalf of consumers connected to its electricity network in Hawke’s Bay and will determine the dollar value of this year’s consumer dividend payments at its next meeting on August 8. 

“Unison Networks has navigated the challenges of a pandemic world incredibly well over the last two years, keeping the company on a steady path to growth whilst maintaining a strong focus on building a sustainable future," Kirton said. 

"The company has delivered a good financial result despite the labour and supply disruptions experienced worldwide during this time." 

The Group’s overall financial performance for the year showed a net profit after tax of $32.1 million. Regulated line revenue was $138 million and capital contributions remained solid at $10.9 million driven by continued strong growth in residential and commercial developments.

Unison Group Chair, Philip Hocquard, said the Board were pleased with Unison’s results and that the Company had continued to press forward, striving to achieve its vision of leading a sustainable energy future that supports consumers’ changing energy needs while enabling its communities to prosper for generations to come.

“Many people in our communities are facing significant, day-to-day pressure as the ongoing impacts of the pandemic, cost of living and global events continue to affect us locally.

“While it is essential that Unison continues to invest in assets at the right time, the Company has a clear eye on how this might impact consumers and is placing priority on striking the right balance between affordability, investment, performance and environmental impact.

He said that the Company maintained focus on embedding sustainability as a foundation of the business.

“For the benefit of our community, as well as our collective future, this is what inspires and compels Unison to innovate and deliver smart energy solutions through a dynamic, flexible, and sustainable electricity system.”

“The Board thanks the Hawke’s Bay Power Consumers’ Trust for the valuable role the Trustees play in helping to ensure Unison’s ongoing success and sustainability.

Kirton said the Trust is working closely with Unison’s directors over this time to ensure the power consumers’ best interests are always front of mind.

"Trustees are pleased to see the level of dividend has been maintained along with continued growth in the business." 

Trustees recognised and noted the focus and attention being placed on Unison’s strategy for growth, investment and innovation, which aims to secure Unison’s financial position while increasing a return for its shareholders.

“The Trust keeps a close relationship with the Directors of Unison and is supportive of investments that will ultimately yield greater returns to the consumer shareholders into the future," Kirton says. 

All power consumers connected to Unison Networks in the Napier and Hastings region will this year benefit from one dividend payment per connection, with a maximum of three payments for any one customer.

“It’s an honour to represent the power consumers of Napier and Hastings and to be able to announce that once again, our consumers continue to benefit from this locally owned investment.”