✨ Financial Statements




4438 NEW ZEALAND GAZETTE No. 189

Electricity Corporation of New Zealand Limited

Notes to the Financial Statements

1998 $M 1997 $M
Imputation credit account
Imputation credits at start of the year 704 576
Plus: Income tax paid 104 131
Imputation credits attached to dividends received - 1
Transfers to subsidiaries - (4)
Imputation credits at end of the year 809 704

6. Dividends

Ordinary shares:

  • Interim dividend paid | 68 | 81 |

  • Final dividend recommended by directors (note 10) | - | 67 |

    Total ordinary dividends | 68 | 148 |

  • Special dividend paid | - | 158 |

    Total dividends paid or provided | 68 | 306 |

7. Current assets

  • Cash | 3 | 8 |

  • Short term deposits | 88 | 1 |

  • Fuel stocks | 38 | 39 |

  • Consumable spares | 12 | 12 |

  • Prepayments | 7 | 2 |

  • Accounts receivable | 165 | 176 |

  • Taxation receivable | - | 5 |

  • Other current assets | 5 | 3 |

    Total current assets | 318 | 246 |

8. Term assets

  • Investment in subsidiaries | 45 | 48 |

  • Resource consents | 8 | 8 |

  • Other term assets | 59 | 3 |

    Total term assets | 112 | 59 |



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🏭 Electricity Corporation of New Zealand Limited Statement of Financial Position (continued from previous page)

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Financial Statements, Imputation Credits, Dividends, Current Assets, Term Assets