NOTES TO THE INTERIM FINANCIAL STATEMENTS
9. RELATED PARTY TRANSACTIONS
Majority shareholder dividend
Vector Limited has paid its majority shareholder, Entrust, dividends of $60.1 million during the period (six months ended 31 December 2016: $60.1 million, 12 months ended 30 June 2017: $120.2 million).
Associate dividend
During the period, no dividends were received from Tree Scape Limited which is an associate of the group (six months ended 31 December 2016: $1.5 million, 12 months ended 30 June 2017: $2.0 million). At 31 December 2017, the group has no material outstanding balances due to or from related parties of the group (31 December 2016: nil, 30 June 2017: $0.2 million).
Outstanding balances
10. CONTINGENT LIABILITIES
Disclosures
The directors are aware of claims that have been made against entities of the group and, where appropriate, have recognised provisions for these within the financial statements. No material contingent liabilities have been identified.
11. EVENTS AFTER THE END OF THE PERIOD
Sale of financial asset
On 23 February 2018, the group executed the unconditional sale of its 22.11% shareholding in NZ Windfarms Limited, an NZX listed entity. The sale transaction settled on 27 February 2018 for total consideration of $6.4 million. No adjustment is required to these interim financial statements in respect of this event.
Financial statements approval
The interim financial statements were approved by the board of directors on 27 February 2018.
Interim dividend
On 27 February 2018, the board declared an interim dividend for the year ended 30 June 2018 of 8.25 cents per share. No adjustment is required to these interim financial statements in respect of this event.
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