Auckland trust payout set to rise

6:05 am on 30 August 2015

More than 300,000 Auckland households are set to receive a bigger annual dividend from the trust that owns a large portion of the power and gas distributor Vector.

Auckland housing, pictured from Mt Eden.

Photo: RNZ / Diego Opatowski

The Auckland Energy Consumer Trust will increase its payout from $335 this year to $345 per household.

Trust chair William Cairns said it was pleasing to see the dividend increase for the ninth year in a row.

He said it boosted the city's economy by more than $100 million, with a significant amount being spent at local businesses.

Mr Cairns said in a recent survey more than 60 percent of people in Auckland said that they relied on their dividend to meet rising living costs.