New Zealand Gazette – 1999 – No. 144

Page 3448

✨ Financial Statements



3448
NEW ZEALAND GAZETTE
No. 144

BAY OF PLENTY ELECTRICITY LIMITED
Financial Statements for the purposes of the
Electricity (Information Disclosure) Regulations 1999

NOTES TO THE FINANCIAL STATEMENTS

11 TERM LOANS

Term loans fall due for repayment in the following periods:

Within One Year Lines Business 1999 Lines Business 1998
Within One to Two Years 14,500 1,000
Within Two to Three Years 4,000 3,500
Within Three to Four Years - 2,000
Within Four to Five Years 13,000 2,000
Balance as at 31 March 43,000 10,500

Disclosed in Balance Sheet as:

| Current Portion of Term Loans | 11,500 | 2,000 |
| Term Loans | 31,500 | 8,500 |
| Balance as at 31 March | 43,000 | 10,500 |

All term loans are unsecured and are subject to negative pledge undertakings. The weighted average interest rate on term loans is 7.4% (1998 7.9%). The Company has $50 million rolling loan facilities until 31 March 2002.

12 DIVIDENDS

| Dividend Paid & Declared @ 23.0 cents (25.5 cents in 1998) | 1,885 | 2,300 |
| Less Interim Dividend Paid | (896) | (937) |
| Less Dividend on shares held by BOPE Trustee Limited | (11) | (62) |
| Balance as at 31 March | 978 | 1,301 |

Dividends (Cents Per Share) | 23.0 |

13 IMPUTATION CREDIT ACCOUNT

Opening Balance Group 1999 Group 1998
Plus: Income Tax Paid 2,000 3,000
Imputation Credits attached to dividends received - 6
Less: Imputation Credits attached to dividends paid (2,452) (2,511)
Balance as at 31 March 1,222 1,674


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✨ LLM interpretation of page content

🏭 Financial Statements for Bay of Plenty Electricity Limited (continued from previous page)

🏭 Trade, Customs & Industry
Electricity, Financial Statements, Term Loans, Dividends, Imputation Credit Account