TrustPower Announces 2003 Final Dividend

TrustPower Announces 2003 Final Dividend

TrustPower Limited's directors announce a final dividend for the year ended 31 March 2003 of 17.5 cents per share. This dividend will carry full imputation credits and a supplementary dividend will be paid to eligible non-residents. It will be paid on 31 July 2003 to shareholders on the register at 18 July 2003.

This will bring the total dividend for 2003, on a per share basis, to 30 cents compared to 16.0 cents for 2002.The interim dividend of 12.5 cents did not carry imputation credits.

The announcement of this dividend was delayed until shareholder approval for the share buy back offer was obtained on 19 June 2003 and the actual final acceptances of the offer were established at the end of business yesterday.

The final buy back acceptances totalled 40,899,843 shares or nearly 21 per cent of those on issue. These shares will be bought back by the company and cancelled. This will return $151.3 million to shareholders who accepted the offer. The company will then have 157,374,936 ordinary shares on issue making the total 2003 final dividend $27.5 million.

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