Vector Annual Report 2017

NOTES TO THE FINANCIAL STATEMENTS

28. Events after balance date:// Approval

The financial statements were approved by the board of directors on 23 August 2017.

Commerce Commission settlement

On 7 July 2017, Vector and the Commerce Commission agreed the settlement of an over-recovery of electricity revenue by Vector during the regulatory years ended 31 March 2014 and 31 March 2015. The settlement will be effected through a price adjustment for the regulatory year to 31 March 2019 and 31 March 2020. The total amount of the adjustment is approximately $13.9 million which will impact revenues reported for the financial years ending 30 June 2018 (3 months), 30 June 2019 (12 months), and 30 June 2020 (9 months). No adjustment is required to these financial statements in respect of this event. On 23 August 2017, the board declared a final and fully imputed dividend for the year ended 30 June 2017 of 8.0 cents per share. No adjustment is required to these financial statements in respect of this event.

Final dividend

117

Vector://AR 17

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