It wasn't, however, entirely correct.
For instance, the state coffers are expected to receive a healthy $134.7 million from Mighty River this year, according to figures English's office provided to Stock Takes.
That's well up on the measly $11.8 million the Government received from the same company in 2003 and payouts ranging from $36.4 million to $55.5 million between 2006 and 2009.
But the Crown took a $286 million dividend from Mighty River in 2010.
And while the Government expects to bank a respectable $196.4 million from Meridian this year, a payout of that size would be well down on those received between 2006 and 2008.
English obviously wasn't taking special dividends into account, either.
Remember the whopping $800 million taxpayers received from Meridian in 2006 following the sale of its Australian subsidiary, Southern Hydro?
English clarified his statement this week, saying: "The Government, as a 51 per cent owner, is now receiving more dividends than it did when it was, on average, a 100 per cent owner of share offer companies." He added that the Crown expected to receive $76 million from Genesis this year. "As a 51 per cent owner, we will get more than twice the dividend we got on average from Genesis Energy."
Field trip
Work towards the float of Rank Group's Carter Holt Harvey is grinding on.
On Tuesday fund managers and analysts braved the wilds of Tokoroa to visit one of the building products firm's mill sites.
Apparently, there was some grumbling in at least one office about who drew the short straw to attend.
Some chilly sentiment has been expressed about the formerly NZX-listed company's plans for sharemarket rebirth, including concerns about the company's growth prospects and how reliable any financial figures supporting the IPO might be.
It's hard to see how a late autumn trip to the central North Island might have warmed things up.
But maybe it has. "People are getting comfortable with what is left of Carter's business after the restructuring and asset sales that have gone on [since the Rank acquisition and delisting in 2006]," said a source this week.
A prospectus is anticipated around the middle of next month, with the float - tipped to value the firm at up to $1 billion - pencilled in for early July. Rank is expected to retain a 30 per cent stake.
Banks on the menu
Morningstar has developed a taste for the big Australasian banks.
Westpac Banking Corporation and National Australia Bank, the parent of local lender BNZ, have been added to the equity research provider's May Best Stock Ideas list, following ANZ's entry in April.
They're interesting additions, given the pressure bank stocks came under earlier this month following the announcement of major capital raisings by NAB and Westpac, aimed at bolstering their balance sheets following increased regulatory pressure from the Australian Prudential Regulation Authority.
Despite a disappointing first-half result, Morningstar said Westpac was trading at a discount to fair value and remained well-placed as the second-largest player in Australia's profitable "bank oligopoly".
"We are confident new CEO Brian Hartzer can deliver on expectations with solid performances expected in fiscal 2016 and 2017 as Australia's economy continues to expand at a moderate, but below-trend, pace." Morningstar said NAB was also trading below fair value, with the market failing to recognise the "upside potential" provided by a phased exit from its poorly performing British banking assets.
NAB shares /down 0.53pc at A$33.38 last night on the ASX, while Westpac stock finished up 1.2c at A$32.65. ANZ closed up 1pc at A$32.22.
Concrete conundrum
Fletcher Building's faulty concrete headache isn't expected to affect earnings guidance or result in impairment charges, but the potential cost of the debacle remains unclear.
The Business Herald revealed this month that work on up to 35 projects would need to be redone after bad concrete, supplied by Fletcher subsidiary Firth, was used in building work.
The affected jobs range from multi-million developments, such as the VXV3 commercial project in Wynyard Quarter and the Waterview motorway connection, to small-scale residential work.
Asked about the financial impact, a Fletcher spokeswoman said: "We haven't changed our earnings guidance for the year and a manufacturing glitch of this nature would not of itself lead to an asset impairment charge."
