More than 374k Auckland households to get $377 from Entrust

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Auckland households are in for a windfall when they receive their annual payment from their lines company.

This is something that happens around the country at different times of the year, but Auckland's payment from Entrust, which owns 75 percent of Vector, is one of the largest.

The payments occur because community and consumer trusts often own shares in their local lines company. Wellington Electricity and Powerco are notable exceptions.

Each year, the lines company may pay a dividend to shareholders, or the trust may have its own accumulated funds, and this money is paid out to the trust's beneficiaries - consumers of power.

Entrust said more than 374,000 households and businesses in central, east and south Auckland would receive a payment of $377 each.