NZ's Trustpower year net profit falls 4.2 percent

WELLINGTON, May 15 (Reuters) - New Zealand's second biggest listed electricity company TrustPower (TPW.NZ) on Thursday reported a 4.2 percent fall in profits on lower generation.

The company said net profit after tax was NZ$98.1 million ($74.3 million) for the year to March 31, compared with NZ$102.4 million in the prior period.

TrustPower, which both generates and retails electricity, declared a dividend of 15 cents per share, compared with 14 cents a share last year.

Shares in TrustPower, half owned by utilities investor Infratil (IFT.NZ), traded unchanged at NZ$8.20, having traded between NZ$6.95 and NZ$9.50 over the past year.

The company also said it would buy back up to five million of its own shares on market over the next six months. ($1=NZ$1.32)