New Zealand's lost dividends from asset sales | The Jackal

23 Nov 2012

New Zealand's lost dividends from asset sales

Sale proceeds and dividends of Former SOEs ($ million)
BNZ
Telecom
Contact Energy
Total
Sale revenue
850
4250
2331
7431
Year
Foregone Dividends
1987
30
30
1988
60
60
1989
25
25
1990
39
198
237
1991
56
200
256
1992
92
307
399
1993
15
366
381
1994
170
500
670
1995
298
597
895
1996
279
727
1,006
1997
270
831
1,101
1998
120
859
979
1999
250
1,137
95
1,482
2000
240
906
103
1,249
2001
160
303
31
494
2002
310
425
110
845
2003
295
430
121
846
2004
323
490
199
1,012
2005
235
835
92
1,162
2006
335
1,184
115
1,634
2007
430
739
150
1,319
2008
703
762
162
1,627
2009
252
495
162
909
2010
620
453
165
1,238
2011
395
345
153
893
Total
6,001
13,089
1,657
20,747
Inflation-adjusted sale proceeds and dividends of Former SOEs (2011$ million)
BNZ
Telecom
Contact Energy
Total
Sale revenue
1585
6733
3225
11542
CPI
Year
Foregone Dividends
621
1987
56
56
650
1988
107
107
697
1989
41
41
731
1990
61
314
375
738
1991
87
314
401
748
1992
142
475
618
758
1993
23
559
582
780
1994
252
742
995
802
1995
430
862
1292
823
1996
393
1023
1415
830
1997
377
1159
1536
833
1998
167
1194
1361
837
1999
346
1573
132
2051
870
2000
319
1206
136
1662
886
2001
209
396
41
646
910
2002
394
541
139
1075
924
2003
370
539
151
1060
949
2004
394
598
243
1235
979
2005
278
988
109
1375
1005
2006
386
1364
133
1883
1037
2007
480
825
167
1473
1072
2008
759
823
174
1757
1093
2009
267
524
171
963
1137
2010
631
461
168
1261
1158
2011
395
345
153
893
Total
7366
16826
1919
26112
Impact on debt (assuming 6% cumulative interest on government debt) nominal millions.
BNZ
Telecom
Contact Energy
Total
Sale revenue
-3441
-14448
-4690
-22580
Foregone dividends
12999
32423
2715
48137
Net increase in debt
9558
17975
-1976
25557

H/T Green Party of Aotearoa New Zealand