Airport dividend worth millions

A "prudent" approach has been taken by the Queenstown Airport Corporation in its proposed dividend policy for providing a return to the Queenstown Lakes District Council, which could see the community receive $2.25 million by September and a total of $3.75 million after the next financial year.

The policy was considered by the council at its full meeting in Queenstown on Tuesday in a public-excluded discussion.

In a statement yesterday, council regulatory and corporate services general manager Roger Taylor said the council had approved the policy, which would act as a guide to Queenstown Airport shareholders on the expected cash returns to the community.

Queenstown Airport chief executive Steve Sanderson told the Otago Daily Times the first $2 million payment would be paid after the end of the current financial year, once the Queenstown Airport operation's accounts were finalised and audited.

- tracey.roxburgh@odt.co.nz