The Waitaki District Council has received a payment of $311,735 from Whitestone Contracting Ltd, the company it owns.
The distribution, in the form of a subvention payment, was for the 2009-10 financial year, with the cheque being presented at the council's committee of the whole meeting on Tuesday.
Whitestone chairman of directors John Walker was pleased to be able to continue the company's proud history of providing distributions back to the community.
Company chief executive officer Glenn Campbell said that in many respects, the payment validated community ownership of Whitestone through the council, as all the distributions had come back to the community.
In addition, Whitestone operated within a very competitive environment and competed with other contractors to ensure integrity within the tendering processes.
"The community directly benefits from the competitive pricing overall and, secondly, distributions from Whitestone's operations being returned to it," Mr Campbell said.
The company, based at Deborah with depots in Palmerston, Fairlie, Waimate, Twizel and Otematata, has 169 employees and pays wages and salaries of almost $9 million.
