The trust is required to consider which assets to retain or sell every three years.
According to the trust's annual report just released, a revaluation of shares in Pioneer Generation in July 2007 showed it was now worth $120.6 million.
Pioneer Generation chief executive Peter Dowling said the increase was based on the earning capacity of the company, which operates 12 small generation plants in Otago and Southland, producing up to 32MW of electricity for the national grid.
The high market spot prices had meant Pioneer Generation's earning capacity was now much greater.
Trust chairman Duncan Butcher said in his annual report the trust owned 100% of the shares of Pioneer Generation Ltd and received a $4 million dividend.
While he agreed the high value of the asset was not fully reflected in the returns, he said Pioneer Generation was more a strategic asset and investment for the future.
"If we decided to sell it, it must go to a public consultation process, and people could demand a poll. The trustees can't just decide to sell it.
"It is still considered in Central Otago as part of the silverware, and this is not the time to consider selling it," Mr Butcher said.
There had been no expression of interest in buying Pioneer Generation and the rate of return was probably not something that people would invest in, he said.
CLT was protected with a solid base if the stock market dropped, Mr Butcher said.
The $4 million dividend comprised a significant and very important portion of the surplus before grants and operating costs, and enabled the Trust to look after most of the applications requested by the community, he said.
Grants totalling $6,003,090 had been approved by trustees during the past financial year, an increase of almost 5% on the previous year.
In total, 134 grants were made to community groups and charitable projects throughout the region.
The largest was $1.5 million to support an Information and Communication Technology (ICT) initiative for all schools throughout the region, Mr Butcher reported.
A regional youth trust to provide leadership, and assist in securing funding on behalf of the existing seven youth trusts was progressing well and could become a reality before the end of the year, chief executive Paul Allison said in his annual report to the trust.
"Work is also progressing in exploring new office accommodation for the trust, as the current office conditions are at times proving challenging for our staff and visitors," he said.
