Tasmanian councils will receive extra dividend payments from TasWater this financial year, chief executive Mike Brewster says.
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The water company was not able to pay councils $20 million in dividends due to the impact COVID-19 had on its business last financial year.
Councils only received $10 million in dividend payments in 2019-20.
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Mr Brewster on Monday told a Legislative Council inquiry on TasWater's operations that councils could expect full dividend payments and additional repayments this year.
"We plan this year to pay the dividends as per usual, and subject to sufficient underlying profits, we will repay the $4 million per year over five years to return the loss of $20 million in dividends brought about by COVID-19," he said.
"For now, our financial forecast scenarios allow us to do that."
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City of Launceston can expect to receive a $2.7 million payment, Devonport council a payment of more than $1 million, and more than $828,000 will be paid to the Burnie council.
Councils received $30 million in dividend payments from TasWater each year between 2015 and 2018.
The payments are compensation for lost rate revenue.
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Political reporter for Australian Community Media, based in Hobart.
Political reporter for Australian Community Media, based in Hobart.
