An equivalent circuit for dielectrics exhibiting frequency dispersion has been obtained using a new multiple-arc analysis in conjunction with relaxation time distribution (RTD). Subsequently, an equivalent network was derived for a zinc oxide (ZnO)-based ceramic varistor at low electric fields. Reported measurements of ZnO varistor resistivity and permittivity were found to correspond satisfactorily to those obtained from the network over the frequency range 30 Hz-10 MHz. The new methodology is, in principle, applicable to any analysable dielectric data.