Shareholder returns
· Share buy-back programme - c.£200 million complete, c.£200 million to deploy
· Shareholder dividend in line with policy - growth of CPIH + 2%
And later;
The Board has recommended a final dividend of 26.83 pence per share for the year ended 31 March 2022. Together with the interim dividend of 11.70 pence per share paid on 5 April 2022 this gives a total dividend for the year of 38.53 pence. This represents an increase of 8.2% (CPIH + 2%) on the adjusted base for 2020/21. Pennon offers shareholders the opportunity to invest their dividend in a Dividend Reinvestment Plan (DRIP).
Pennon's sector-leading dividend policy of growth of CPIH +2% reflects the Board's confidence in the Group's sustainable growth strategy and is underpinned by continued RORE^ outperformance in South West Water.
Proposed dividends totalling £102.0 million are covered 1.4 times^ by net profit (before non-underlying items and deferred tax) (2020/21 1.9 times). Dividends are charged against retained earnings in the year in which they are paid.
https://www.investegate.co.uk/pennon-gr ... 00053192N/
Also posted on Company News here; viewtopic.php?p=503894#p503894
Ian.