1 Apr 2010

Meridian to pay $90m dividend to Government

6:59 am on 1 April 2010

Power company Meridian is to pay a dividend of $90 million to its owner, the Government.

The payout represents 75% of Meridian's underlying half-year profit of $118.7 million, in line with the company's dividend policy.

Meanwhile, the electricity generator and retailer is confident its underlying full-year profit will exceed last year due to fuller hydro lakes.