Pennon Group Finals.

[idpickering]

Pennon Group
•Pennon has delivered robust performance in 2018/19, in line with management expectations
•Underlying PBT up +8.3% driven by: ◦EBITDA growth of +19.1% at Viridor supported by the build out and performance of our Energy Recovery Facilities (ERFs)
◦Higher revenues and EBITDA at South West Water reflecting increased customer demand over the summer, net of costs to deliver the resilient service to customers
◦c.£17 million p.a. Group efficiencies secured in line with expectations

•Statutory PBT at £260.3 million, after non-underlying items of £19.9 million, broadly comparable with prior year
•Statutory earnings per share growth of 6.5% to 51.1p, reflecting efficient hybrid financing
•2018/19 dividend per share up +6.4% to 41.06p
•Cash flow from operations reflecting robust operational performance, whilst significant capital investment for growth continues, including increased holding in Runcorn I ERF joint venture
•Development of our Sustainable Financing Framework, with £600 million of the £830 million debt raised during the year linked to the sustainable nature of the business, reducing our costs and reflecting our environmental and social credentials

https://www.pennon-group.co.uk/media/ne ... lts-201819

[daveh]

Dividend policy
Whilst delivering on our promises to customers and communities, for investors Pennon's long established 10 year dividend policy delivers 4% year-on-year growth above RPI inflation to 2020. This policy reflects the Board's confidence in our sustainable growth strategy and is underpinned by the highest potential Return on Regulated Equity in the water sector over K6 (2015-20) and the growth in earnings delivered by Viridor's ERFs.
For 2018/19, the Board has recommended a final dividend of 28.22p, subject to shareholder approval at the Annual General Meeting on 25 July 2019. The final dividend will be paid on 3 September 2019 to shareholders on the register on 26 July 2019. Together with the interim dividend of 12.84p, this will result in a total dividend of 41.06p, an increase of 6.4% from last year.
Pennon offers shareholders the opportunity to invest their dividend in a Dividend Reinvestment Plan (DRIP).

Full year dividend payment information
25 July 2019 Ex-dividend date
26 July 2019 Record date
12 August 2019 Final date for receipt of DRIP applications
03 September 2019 Final dividend payment date

[Alaric]

Dividend policy
Whilst delivering on our promises to customers and communities, for investors Pennon's long established 10 year dividend policy delivers 4% year-on-year growth above RPI inflation to 2020.

The dividenddata site quotes a dividend yield of 5.37%. The increasing dividends haven't been accompanied by an increasing share price, so the dividend yield has been increasing.