http://nzx-prod-s7fsd7f98s.s3-websit...324/328796.pdf
Very resilient performance is extraordinarily low hydrology conditions. Very impressive. Dividend increased again.
Gross yield a whopping 8% is outstanding. Huge 33% upgrade to Kupe's reserves and excellent outlook with a forecast of $405m EBITDAF at mid point, up from $356m this year.
Expenses well controlled and major upgrade to Kupe reserves marks this out as a very reliable dividend income stream for the foreseeable future.
That sort of yield for a reliable utility is remarkable when interest rates are headed to zero.
Disc: I doubled my stake earlier this week and am looking for more.
Long term I expect GNE to be the least affected of the gentailiers by Tiwai's closure.