Announcement • Jun 17
Meridian Energy Limited to Report Fiscal Year 2026 Results on Aug 26, 2026 Meridian Energy Limited announced that they will report fiscal year 2026 results on Aug 26, 2026 Announcement • Jun 06
Meridian Energy Limited Receives Draft Approval from Fast-Track Panel to Ease Access Restrictions on Lake Pkaki Hydro Storage and Install Rock Armouring Meridian Energy Limited welcomed the Fast-track Panel's draft decision proposing the easing of access restrictions on Lake Pkaki hydro storage for a three-year period. Meridian sought approval under the Fast-track Approvals Act to allow access to water stored between 518 and 513 metres above sea level prior to the point where Transpower estimates there is a 4% risk of electricity shortage. While welcoming the decision Meridian also respects and appreciates the views of commenters in the Fast-track process that raised concerns regarding eased access to contingent storage. Given these concerns and the positive hydro storage outlook for Winter 2026, Meridian proposes, if the draft decision is confirmed, to continue for the rest of 2026 to treat half of the five metres of contingent storage as only accessible when there is a heightened risk to security of supply. The company plans to hold further discussions with key electricity industry stakeholders during 2026 on this topic. In addition to the contingent storage access, the Fast-track Panel's draft decision also grants Meridian permission to permanently install rock armouring at Pkaki Dam to ensure its resilience to wave erosion when operating the lake at lower levels. The Panel is required to release its final decision by 3 July 2026. Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. Independent Non-Executive Director David Carter was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. Independent Non-Executive Director David Carter was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 25
Meridian Energy Limited Announces Ordinary Unfranked Dividend for the Six Months Ended December 31, 2025, Payable on March 24, 2026 Meridian Energy Limited announced ordinary unfranked dividend of NZD 0.06400000 per security for the six months ended December 31, 2025. Dividend payable on March 24, 2026, record date of March 6, 2026 and ex-date of March 5, 2026. Announcement • Dec 15
Meridian Energy Limited to Report First Half, 2026 Final Results on Feb 25, 2026 Meridian Energy Limited announced that they will report first half, 2026 final results on Feb 25, 2026 Announcement • Dec 05
Meridian Energy Limited Announces Resignation of Michelle Henderson as Independent Director, Effective 27 January 2026 Meridian Energy Limited announced resignation of Michelle Henderson as independent director, effective 27 January 2026. Michelle's resignation follows her appointment as the new General Manager of New Zealand Aluminium Smelters (NZAS) at Tiwai. Announcement • Oct 28
Meridian Energy Limited Appoints Kylie Reiri as Future Director, Effective 3 November 2025 The Meridian Energy Board announced the appointment of Kylie Reiri (Ngi Tahu, Ngti Kahungunu, Rangitne) as its next Future Director, effective 3 November 2025. Kylie has had a career in a range of private and public sector roles dedicated to improving outcomes for New Zealanders through data-driven decision making including her current role as Deputy Chief Executive Transformation, Technology and Enabling Services with the Social Investment Agency. Prior to this Kylie was a Partner at PwC where she led work across the Mori economy and the Finance, Economics and Analytics practice. She has experience building and leading start-up companies, including serving as CEO of Nicholson Consulting and co-founding Impact Lab. Her leadership has been recognised with several awards, including NZ IT Professional of the Year 2021 and the IT People Leadership award. She serves on the Data Science and AI Board at Te Herenga Waka-Victoria University of Wellington, advocating for accelerated adoption of new technologies in safe and considered ways. Of Ngti Kahungunu, Rangitne and Ngi Tahu descent, Kylie brings strong cultural capability to her role. She is passionate about ensuring every child in Aotearoa New Zealand has the opportunity to thrive. Kylie lives in Wellington with her partner and their three tamariki, who they are raising in a bilingual te reo Mori home. Announcement • Oct 21
Meridian Energy Limited Declares Final Cash Dividend for the Fiscal Year 2025 That strong balance sheet meant Meridian Energy Limited was also able to provide stable returns to shareholders, with the Board declaring a final ordinary dividend of 14.85 cents per share. This brings the total ordinary dividends declared in FY25 to 21.00 cents per share. The Board approved continuation of the Dividend Reinvestment Plan at a 2% discount. Declared Dividend • Aug 29
Final dividend of NZ$0.17 announced Shareholders will receive a dividend of NZ$0.17. Ex-date: 4th September 2025 Payment date: 23rd September 2025 Dividend yield will be 4.5%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (410% cash payout ratio). The dividend has increased by an average of 4.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Aug 27
Full year 2025 earnings released: NZ$0.17 loss per share (vs NZ$0.17 profit in FY 2024) Full year 2025 results: NZ$0.17 loss per share (down from NZ$0.17 profit in FY 2024). Revenue: NZ$4.84b (flat on FY 2024). Net loss: NZ$452.0m (down 205% from profit in FY 2024). Revenue is expected to decline by 1.7% p.a. on average during the next 3 years, while revenues in the Global Renewable Energy industry are expected to grow by 7.4%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Announcement • Aug 07
Meridian Energy Limited, Annual General Meeting, Oct 21, 2025 Meridian Energy Limited, Annual General Meeting, Oct 21, 2025. Location: wellington New Zealand Announcement • Jun 26
Meridian Energy Limited to Report Fiscal Year 2025 Results on Aug 27, 2025 Meridian Energy Limited announced that they will report fiscal year 2025 results on Aug 27, 2025 Announcement • May 15
Meridian Energy Limited (NZSE:MEL) agreed to acquire branded electricity customers, hedge book and brand of Flick Energy Limited. Meridian Energy Limited (NZSE:MEL) agreed to acquire branded electricity customers, hedge book and brand of Flick Energy Limited on May 13, 2025. In a related transaction, Meridian Energy Limited agreed to acquire branded electricity customers of Z Energy Limited for a combined consideration of NZD 70 million. Announcement • Feb 20
Meridian Energy Limited (NZSE:MEL) entered into a Scheme Implementation Agreement to acquire remaining 80.01% stake in NZ Windfarms Limited (NZSE:NWF) from Salt Funds Management Limited and Robert Stone for NZD 72.7 million. Meridian Energy Limited (NZSE:MEL) entered into a Scheme Implementation Agreement to acquire remaining 80.01% stake in NZ Windfarms Limited (NZSE:NWF) from Salt Funds Management Limited and Robert Stone for NZD 72.7 million on February 19, 2025. A cash consideration valued at NZD 0.25 per share will be paid by Meridian Energy Limited. Upon completion, Meridian Energy Limited will own 100% stake in NZ Windfarms Limited.
The transaction is subject to approval of merger agreement by target board, approval of offer by target shareholders and subject to court approval. The deal has been unanimously approved by the board.
Russell McVeagh acted as legal advisor for Meridian Energy Limited. Clare Capital Limited acted as financial advisor for Meridian Energy Limited. Announcement • Dec 16
Meridian Energy Limited to Report First Half, 2025 Results on Feb 26, 2025 Meridian Energy Limited announced that they will report first half, 2025 results on Feb 26, 2025 Declared Dividend • Aug 30
Final dividend of NZ$0.17 announced Shareholders will receive a dividend of NZ$0.17. Ex-date: 4th September 2024 Payment date: 20th September 2024 Dividend yield will be 4.1%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (127% earnings payout ratio) nor is it covered by cash flows (157% cash payout ratio). The dividend has increased by an average of 4.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 41% to bring the payout ratio under control. EPS is expected to grow by 12% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Aug 28
Full year 2024 earnings released: EPS: NZ$0.17 (vs NZ$0.037 in FY 2023) Full year 2024 results: EPS: NZ$0.17 (up from NZ$0.037 in FY 2023). Revenue: NZ$4.86b (up 51% from FY 2023). Net income: NZ$429.0m (up 352% from FY 2023). Profit margin: 8.8% (up from 2.9% in FY 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 3.9% p.a. on average during the next 3 years, while revenues in the Global Renewable Energy industry are expected to grow by 9.1%. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Aug 28
Meridian Energy Limited Declares Partially Imputed Final Ordinary Dividend for the Fiscal Year Ended June 30, 2024, Payable on 20 September 2024 The Board of Meridian Energy Limited declared a partially imputed final ordinary dividend of 14.85 cents per share. This brings the total ordinary dividends declared in fiscal year 2024 to 21.00 cents per share. Record date is 5 September 2024. Dividend payment date is 20 September 2024. Announcement • Aug 01
Meridian Energy Limited, Annual General Meeting, Oct 15, 2024 Meridian Energy Limited, Annual General Meeting, Oct 15, 2024. Announcement • Jun 27
Meridian Energy Limited to Report Fiscal Year 2024 Results on Aug 28, 2024 Meridian Energy Limited announced that they will report fiscal year 2024 results on Aug 28, 2024 Declared Dividend • Mar 01
First half dividend of NZ$0.07 announced Shareholders will receive a dividend of NZ$0.07. Ex-date: 8th March 2024 Payment date: 26th March 2024 Dividend yield will be 3.5%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (362% earnings payout ratio) nor is it covered by cash flows (236% cash payout ratio). The dividend has increased by an average of 3.6% per year over the past 9 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 302% to bring the payout ratio under control. EPS is expected to grow by 223% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Mar 01
Meridian Energy Limited Announces Dividend for the Six Months Ended December 31, 2023, Payable on March 26, 2024 Meridian Energy Limited announced ordinary fully paid foreign exempt dividend of NZD 0.07018235 per security for the six months ended December 31, 2023. Ex date is March 8, 2024; Record date is March 11, 2024; Payment date is March 26, 2024. Announcement • Dec 05
Meridian Energy Limited to Report First Half, 2024 Results on Feb 28, 2024 Meridian Energy Limited announced that they will report first half, 2024 results on Feb 28, 2024 Announcement • Aug 30
Meridian Energy Limited Announces Final Ordinary Dividend for the Six Months Ended June 30, 2023, Payable on September 22, 2023 Meridian Energy Limited announced final ordinary dividend of 11.90 cents per share for the six months ended June 30, 2023. Record Date is September 7, 2023. Ex Date is September 6, 2023. Payment Date is September 22, 2023. New Risk • Aug 29
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.9% Last year net profit margin: 12% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (250% cash payout ratio). Profit margins are more than 30% lower than last year (2.9% net profit margin). Reported Earnings • Aug 29
Full year 2023 earnings released: EPS: NZ$0.037 (vs NZ$0.17 in FY 2022) Full year 2023 results: EPS: NZ$0.037 (down from NZ$0.17 in FY 2022). Revenue: NZ$3.22b (down 13% from FY 2022). Net income: NZ$95.0m (down 79% from FY 2022). Profit margin: 2.9% (down from 12% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Global Renewable Energy industry. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jul 29
Meridian Energy Limited, Annual General Meeting, Oct 12, 2023 Meridian Energy Limited, Annual General Meeting, Oct 12, 2023. Announcement • Jul 13
Meridian Energy Limited Appoints David Carter as A Non-Executive Director with Effect from 25 July 2023 Meridian Energy Limited advised that it intends to appoint David Carter as a Non-Executive Director with effect from 25 July 2023. David brings broad expertise in the civil engineering, infrastructure, strategy, and management spaces and will add to the Board's skills and expertise following the retirement of longstanding Director, Mark Cairns, whose term concludes at the Company's Annual Shareholders' Meeting later this year. David holds a BE (Civil) with Honours and a ME with distinction from Auckland University New Zealand, as well as a PhD (Geotechnical Engineering) from the University of California at Berkeley in the United States of America. David has been with the Beca group of companies since 1988 and over his 30 plus years of experience has held various positions within the group. Since 2017 Mr. Carter has been the Group Executive Chair at Beca Group Ltd. - one of the largest independent advisory, design, engineering and related services consultancies in the Asia-Pacific. A civil engineer by profession, David has worked across a diverse range of sectors both within New Zealand and offshore, from airports to ports, and wastewater treatment plants to heavy duty pavements. He has worked on remediation of the Larona hydro canal and on foundations for high rise structures. During his career he has worked on a range of major projects including the Victorian (Australia) Desalination plant as a board member of the design JV. He was also a technical reviewer of the resource consent for the Kioreweku Hydroelectric project. Announcement • Jun 30
Meridian Energy Limited to Report Fiscal Year 2023 Results on Aug 29, 2023 Meridian Energy Limited announced that they will report fiscal year 2023 results on Aug 29, 2023 Recent Insider Transactions • Mar 10
Chief People Officer recently sold AU$494k worth of stock On the 6th of March, Jason Stein sold around 100k shares on-market at roughly AU$4.94 per share. This transaction amounted to 45% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$410k more than they bought in the last 12 months. Reported Earnings • Mar 01
First half 2023 earnings released: EPS: NZ$0.078 (vs NZ$0.056 in 1H 2022) First half 2023 results: EPS: NZ$0.078 (up from NZ$0.056 in 1H 2022). Revenue: NZ$1.53b (down 8.6% from 1H 2022). Net income: NZ$201.0m (up 39% from 1H 2022). Profit margin: 13% (up from 8.7% in 1H 2022). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.4% p.a. on average during the next 3 years, while revenues in the Global Renewable Energy industry are expected to grow by 7.3%. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Dec 15
Meridian Energy Limited to Report First Half, 2023 Results on Mar 01, 2023 Meridian Energy Limited announced that they will report first half, 2023 results on Mar 01, 2023 Board Change • Oct 31
High number of new directors Independent Non-Executive Director Graham John Cockroft was the last director to join the board, commencing their role in 2022. Recent Insider Transactions • Sep 01
Independent Non-Executive Director recently bought AU$91k worth of stock On the 25th of August, Graham John Cockroft bought around 20k shares on-market at roughly AU$4.55 per share. This transaction increased Graham John's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold AU$106k more in shares than they bought in the last 12 months. Upcoming Dividend • Aug 31
Upcoming dividend of NZ$0.13 per share Eligible shareholders must have bought the stock before 07 September 2022. Payment date: 23 September 2022. Payout ratio is on the higher end at 99%, and the cash payout ratio is above 100%. Trailing yield: 3.5%. Lower than top quartile of Australian dividend payers (6.6%). In line with average of industry peers (3.2%). Reported Earnings • Aug 25
Full year 2022 earnings released: EPS: NZ$0.17 (vs NZ$0.16 in FY 2021) Full year 2022 results: EPS: NZ$0.17 (up from NZ$0.16 in FY 2021). Revenue: NZ$3.70b (down 6.6% from FY 2021). Net income: NZ$451.0m (up 8.7% from FY 2021). Profit margin: 12% (up from 11% in FY 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is expected to shrink by 7.2% compared to a 411% growth forecast for the Renewable Energy industry in Australia. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Aug 03
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Graham John Cockroft was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 10
Upcoming dividend of NZ$0.067 per share Eligible shareholders must have bought the stock before 17 March 2022. Payment date: 08 April 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.3%. Lower than top quartile of Australian dividend payers (5.8%). In line with average of industry peers (3.4%). Reported Earnings • Feb 25
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: EPS: NZ$0.056 (down from NZ$0.089 in 1H 2021). Revenue: NZ$1.67b (down 1.1% from 1H 2021). Net income: NZ$145.0m (down 36% from 1H 2021). Profit margin: 8.7% (down from 13% in 1H 2021). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 6.3%. Over the next year, revenue is expected to shrink by 21% compared to a 55% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year. Executive Departure • Dec 06
Chief People Officer Tania Palmer has left the company On the 6th of December, Tania Palmer's tenure as Chief People Officer ended after 2.5 years in the role. We don't have any record of a personal shareholding under Tania's name. Tania is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.50 years. Recent Insider Transactions • Nov 30
Insider recently sold AU$225k worth of stock On the 22nd of November, Jason Stein sold around 50k shares on-market at roughly AU$4.49 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$296k more than they bought in the last 12 months. Upcoming Dividend • Sep 22
Upcoming dividend of NZ$0.13 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 15 October 2021. Trailing yield: 3.2%. Lower than top quartile of Australian dividend payers (5.6%). In line with average of industry peers (3.2%). Board Change • Sep 10
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Tania Joy Te Simpson was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 03
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Tania Joy Te Simpson was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 26
Full year 2021 earnings released: EPS NZ$0.17 (vs NZ$0.069 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: NZ$4.30b (up 26% from FY 2020). Net income: NZ$428.0m (up 143% from FY 2020). Profit margin: 10.0% (up from 5.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of NZ$0.066 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 16 April 2021. Trailing yield: 3.2%. Lower than top quartile of Australian dividend payers (5.5%). In line with average of industry peers (3.2%). Recent Insider Transactions • Mar 22
Insider recently sold AU$53k worth of stock On the 15th of March, Guy Te Puka Waipara sold around 10k shares on-market at roughly AU$5.34 per share. In the last 3 months, they made an even bigger sale worth AU$76k. Insiders have been net sellers, collectively disposing of AU$129k more than they bought in the last 12 months. Recent Insider Transactions • Mar 11
Insider recently sold AU$75k worth of stock On the 10th of March, Guy Te Puka Waipara sold around 15k shares on-market at roughly AU$5.03 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Feb 25
First half 2021 earnings released: EPS NZ$0.089 (vs NZ$0.075 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: NZ$1.87b (up 5.0% from 1H 2020). Net income: NZ$227.0m (up 19% from 1H 2020). Profit margin: 12% (up from 11% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Feb 25
Revenue misses expectations Revenue missed analyst estimates by 1.0%. Over the next year, revenue is forecast to stay flat compared to a 18% growth forecast for the Renewable Energy industry in Australia. Is New 90 Day High Low • Feb 15
New 90-day low: AU$5.27 The company is down 7.0% from its price of AU$5.69 on 17 November 2020. The Australian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$4.96 per share. Is New 90 Day High Low • Dec 24
New 90-day high: AU$6.74 The company is up 54% from its price of AU$4.37 on 23 September 2020. The Australian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.81 per share. Is New 90 Day High Low • Dec 08
New 90-day high: AU$6.35 The company is up 41% from its price of AU$4.50 on 09 September 2020. The Australian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.99 per share. Is New 90 Day High Low • Nov 11
New 90-day high: AU$5.67 The company is up 35% from its price of AU$4.21 on 13 August 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.11 per share. Is New 90 Day High Low • Oct 09
New 90-day high: AU$4.90 The company is up 13% from its price of AU$4.34 on 10 July 2020. The Australian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.99 per share. 
