Page 451 of the Royal Commission's report says Auckland City Council owns 12.8% of the shares in Auckland International Airport, and that they are now worth $303.7 million. Hard on the heels of that a council report said its dividend from the shares this year was $9.7 million (and that that was below normal).
Last year I asked the airport company what percentage of shares Waiheke County Council had before Auckland took over in 1989. It wrote back saying that it was 0.115%, but could not give me the current value. The figures in the Royal Commission's report show that they are now worth $2,728,555, and that this year's dividend would have been $87,150.
Under Section 13(b)(iv) of the reorganisation proposal now before the Local Government Commission for the Thames-Coromandel application, the shares would return to the island.
Waiheke Island, New Zealand
Waiheke from the west (the end nearest Auckland)
About Me
- Nobilangelo
- My Christian name is pronounced 'noble-arn-jillo' (i.e., both o's are long, so the first two syllables rhyme with 'noble' not 'hobble'--yes, I know that's obvious, because there's only one 'b' between the 'o' and the 'i', but some people seem to see two b's, hence the English lesson). My surname is pronounced kerra-marliss. I was born, bred and educated in New Zealand, except for an international systems-engineer's course in San Antonio, Texas. I am born-again Christian, a thinker with a very practical turn of mind, a scientist with a particular interest in planet-friendly energy and neuroscience, an engineer (mechanical, industrial and IT systems), an inventor, a Member of the American Association for the Advancement of Science, a writer and poet, a naturist, a designer in different fields, an arranger and composer of symphonic music, a multi-award-winning IT journalist, a photographer, and a practitioner at various times in other hands-on fields including building, metalwork, woodwork, stained-glass and landscaping.