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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Vector
Vector (VCT) investor relations material
Vector AGM 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.AGM 2026 summary24 Sep, 2026
Opening remarks and agenda
Meeting commenced with apologies for a brief delay, overview of housekeeping, and emergency procedures.
Agenda included voting instructions, addresses from the Chair and Group Chief Executive, auditor appointment resolution, general business, and Q&A.
Hybrid format allowed both in-person and online participation, with structured opportunities for shareholder questions.
Financial performance review
Adjusted EBITDA rose from NZD 401 million in FY 2025 to NZD 482 million in FY 2026, mainly driven by electricity business growth.
Net profit after tax increased to NZD 240 million, reflecting stronger earnings and no gas impairment this year.
Gross capital expenditure reached NZD 544 million, with electricity CapEx at a record NZD 512 million.
Economic net debt stood at NZD 2.28 billion with gearing at 39%, maintaining financial flexibility.
FY 2027 guidance: adjusted EBITDA NZD 540–560 million, CapEx NZD 605–635 million, capital contributions NZD 160–190 million.
Dividend announcements
Final dividend declared at NZD 0.135 per share, totaling NZD 0.26 per share for FY 2026.
FY26 final dividend maintained at 16.75 cents per share, consistent with FY25.
Dividend reflects strong performance and consideration of investment program and future funding needs.
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Latest events from Vector
- Net profit hit $240M, EBITDA up 20%, with record network investment and strong FY27 outlook.VCT
H2 2026 - Adjusted EBITDA up 19% to $240m, net profit $113m, and interim dividend set at 12.5c.VCTH1 2026
- Strong financials, higher dividends, and all resolutions passed amid growth and regulatory challenges.VCTAGM 2025
- Revenue up 9%, EBITDA up 16%, 55% emissions cut, and strong FY26 outlook.VCTH2 2025
- EBITDA growth, stable dividends, and digital innovation amid regulatory and climate focus.VCTAGM 2024
- Adjusted EBITDA up 14% year-over-year, with strong capex and major asset sales.VCTH2 2024
- Net profit after tax reached $118 million, with adjusted EBITDA up 16% year-over-year.VCTH1 2025
Next Vector earnings date
H1 202718 Feb, 2027
Vector
Next Vector earnings date
H1 202718 Feb, 2027
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Frequently asked questions
Vector Limited is a diversified infrastructure company primarily engaged in energy distribution and services in New Zealand. The company operates electricity and gas distribution networks, delivering energy to residential, commercial, and industrial customers. Vector also offers metering services, energy storage solutions, and telecommunications infrastructure. In addition, the company invests in new technologies to enhance energy efficiency and sustainability, including renewable energy initiatives. Vector serves customers primarily in the Auckland region and supports various initiatives aimed at modernizing energy infrastructure. The company is headquartered in Auckland, New Zealand, and its shares are listed on the NZX.