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United Utilities Group (UU.)

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moorfield
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Re: United Utilities Group (UU.)

#398799

Postby moorfield » March 25th, 2021, 7:59 am

An excellent performance for customers and the environment perhaps, but what about shareholders? Who might have spotted ...


Overall, the net reduction in revenue is expected to be around 3 per cent.


and

Underlying operating profit for 2020/21 is expected to be lower than 2019/20 largely reflecting the lower revenue and higher infrastructure renewals expenditure (IRE).


and

As the company continues to invest in its asset base we expect a small increase in group net debt at 31 March 2021




But I agree, it's a very boring share to hold, which is perhaps a good thing.

idpickering
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Re: United Utilities Group (UU.)

#415448

Postby idpickering » May 27th, 2021, 7:18 am


absolutezero
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Re: United Utilities Group (UU.)

#415542

Postby absolutezero » May 27th, 2021, 11:47 am


A boring, solid company.
Happy to hold.

idpickering
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Re: United Utilities Group (UU.)

#415556

Postby idpickering » May 27th, 2021, 12:16 pm

absolutezero wrote:

A boring, solid company.
Happy to hold.


Me too. I’m unlikely to buy more and topped up my holdings about 18 months ago.

Ian.

idpickering
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Re: United Utilities Group (UU.)

#445500

Postby idpickering » September 27th, 2021, 7:09 am

Trading Update

United Utilities announces the following trading update ahead of its half year results on 24 November 2021.

Current trading is in line with the group's expectations for the six months ending 30 September 2021.

Supporting customers

We continue to deliver high levels of customer satisfaction and provide services to more than 7 million customers in the North West. Our customer facing teams work incredibly hard to help those struggling financially, with around 200,000 customers currently benefitting from our affordability schemes we are supporting more customers than ever before.

We have continued to build on our long track record of innovating to improve service and enhance the customer experience, reflected in our C-MeX and D-MeX scores for which we have earned a reward against both measures for 2020/21.

Leading environmental performance

In the Environment Agency's latest annual assessment of environmental performance, we achieved the top 4 star ranking and were assessed as "green" across all six areas that the Agency assessed. This is the fourth time in the last 6 years we have earned this top rating.

Securing a low carbon future

In July we became the first UK water company to have science-based targets, including supply chain (scope 3) targets, approved by the Science Based Targets initiative (SBTi). The SBTi is widely accepted as providing the gold standard approval for carbon emission reduction targets. Our new scope 3 emissions targets, with measures including both supplier engagement and an absolute reduction, further develop our carbon strategy and demonstrate our ambition to net zero from 2030.

Financial performance

Our AMP7 guidance on regulatory performance remains unchanged from that given at our full year results in May 2021.

Group revenue for the first half of 2021/22 is expected to be higher than the first half of last year, mainly reflecting higher consumption only partially offset by the known regulatory revenue reduction. Household consumption remains high as many customers continue to work from home and consumption from businesses has started to return to pre-Covid levels as restrictions are lifted. Overall, the net increase in revenue in the first half of the year is expected to be around 4 per cent.

Underlying operating profit for the first half of 2021/22 is expected to be higher than the first half of last year. This largely reflects higher revenue and targeted efficiencies partly offset by higher underlying operating costs, largely as a result of inflationary increases in our core costs.


https://www.investegate.co.uk/united-ut ... 00079680M/

idpickering
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Re: United Utilities Group (UU.)

#460466

Postby idpickering » November 24th, 2021, 7:18 am

HALF YEAR RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2021

· 6% real reduction in typical household bills since the start of AMP7

· Upper quartile for customer satisfaction; on track for a C-MeX reward

· Backing the Consumer Council for Water's (CCW) drive to launch a national social tariff

· More than 200,000 customers supported through extensive affordability schemes

· Welcoming a record 95 apprentices onto our award winning apprentice scheme for 2021

· Helping 250 young people through the Kickstart scheme

· Committed £300,000 to eight North West charities to improve local rivers

And later;

· Interim dividend of 14.50p, in line with AMP7 dividend policy

The interim dividends for the six months ended 30 September 2021 and 30 September 2020, and the final dividend for the year ended 31 March 2021, have not been included as liabilities in the respective condensed consolidated financial statements at 30 September 2021 and 30 September 2020, and the consolidated financial statements at 31 March 2021, because they were approved after the reporting date.

The interim dividend of 14.50 pence per ordinary share (2020: interim dividend of 14.41 pence per ordinary share, final dividend of 28.40 pence per ordinary share) is expected to be paid on 1 February 2022 to shareholders on the register at the close of business on 17 December 2021. The ex-dividend date for the interim dividend is 16 December 2021.



https://www.investegate.co.uk/united-ut ... 00033400T/

tjh290633
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Re: United Utilities Group (UU.)

#460678

Postby tjh290633 » November 24th, 2021, 7:53 pm

Later it says:

Dividend per share

The Board has proposed an interim dividend of 14.50 pence per ordinary share in respect of the six months ended 30 September 2021. This is an increase of 0.6 per cent compared with the interim dividend relating to last year, in line with the group's dividend policy of targeting a growth rate of CPIH inflation each year through to 2025. The inflationary increase of 0.6 per cent is based on the CPIH element included within the allowed regulated revenue increase for the 2021/22 financial year (i.e. the movement in CPIH between November 2019 and November 2020).

The interim dividend is expected to be paid on 1 February 2022 to shareholders on the register at the close of business on 17 December 2021. The ex-dividend date is 16 December 2021. The election date for the Dividend Reinvestment Plan is 11 January 2022.

The bit about how the inflation adjustment is calculated is interesting.

TJH

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Re: United Utilities Group (UU.)

#460767

Postby bluedonkey » November 25th, 2021, 9:51 am

I had to look up the definition of CPIH inflation: "Consumer Prices Index including owner occupiers' housing costs." There's a much larger CPIH inflation figure for the 12 months after the one used for this dividend increase.

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Re: United Utilities Group (UU.)

#489059

Postby daveh » March 25th, 2022, 8:24 am

Trading statement:
https://www.investegate.co.uk/united-ut ... 00059782F/

Current trading is in line with the group's expectations for the year ending 31 March 2022.

Performing strongly

In Ofwat's Service Delivery Report for 2020/21 we were assessed as the joint top performer across directly comparable areas of outcome delivery, demonstrating focus on delivering objectives that matter to stakeholders. We were identified as a "top performer" in reducing water supply interruptions and minimising pollution incidents. Our pollution performance continues to be sector leading. We have delivered a 31 per cent reduction in incidents in the first year of the AMP and we expect to have maintained this high level of performance in the current year.

Protecting the environment

In the Environment Agency's most recent assessment of environmental performance, we were awarded the top 4 star ranking. We have achieved this industry leading status in four of the last six years, demonstrating our commitment in this important area. It is our duty to protect the environment we rely on, which includes the health of our rivers and coastlines. We are determined to play our part in tackling the problem of river pollution, which is why we are on track with the investment of almost £900 million in AMP7 to improve the quality of our region's rivers and seas.


Financial performance

Our AMP7 guidance on regulatory performance remains unchanged from that given at our half year results in November 2021.

Group revenue is expected to be higher than last year, largely reflecting higher consumption from business customers. Overall, the net increase in revenue is expected to be around 3 per cent.

Underlying operating profit for 2021/22 is expected to be broadly the same as in 2020/21 as higher revenue is broadly offset by higher underlying operating costs, largely as a result of inflationary increases in our core costs.

We expect the underlying net finance expense for 2021/22 to be around £175 million higher than 2020/21 largely due to higher inflation applied to the group's index-linked debt. However, with inflation at a 30-year high, we will benefit from higher indexation increasing the regulatory capital value of the regulated business at the year-end, as well as increasing future revenues.

As a result of the impact of capital allowances, including the temporary super deductions available for the current year, together with the expected agreement of prior years' tax matters as part of the group's normal processes of ensuring the right amount of tax is paid, we would expect an underlying tax credit for 2021/22 of around £60 million.

We expect an increase in group net debt at 31 March 2022 compared with the position as at 31 March 2021. This largely reflects the inflation accretion on the group's index-linked debt along with ongoing investment in its asset base including the acceleration of capital expenditure and the previously announced £365 million of incremental totex to deliver service improvements sooner.

Our responsible approach to financial risk management continues to deliver benefits, including a strong balance sheet, a stable IFRS pension surplus and gearing within our target range supporting a solid A3 credit rating for United Utilities Water with Moody's.

idpickering
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Re: United Utilities Group (UU.)

#502866

Postby idpickering » May 26th, 2022, 7:24 am


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Re: United Utilities Group (UU.)

#513596

Postby idpickering » July 12th, 2022, 7:30 am

Disposal: United Utilities Renewable Energy Limited.

UNITED UTILITIES AGREES TO SELL ITS RENEWABLE ENERGY BUSINESS

United Utilities Group PLC ("UU") today announces that it has agreed to sell its non-appointed renewable energy business, United Utilities Renewable Energy Limited ("UURE"). UURE is being sold to SDCL Energy Efficiency Income Trust plc ("SEEIT") for approximately £100 million enterprise value. United Utilities has developed a portfolio of solar, wind and hydro renewable assets since 2014 and UURE comprises 69 MW of renewable generation assets across 70 sites. Following divestment, these assets will continue to provide long-term green energy to our regulated Water and Wastewater business, United Utilities Water Limited ("UUW"). This sale allows UU to recycle its capital employed in the UURE business back into the next phase of our ambitious journey to net zero, whilst continuing to source green energy from the existing UURE portfolio. Completion of the transaction is expected in the coming months. Royal Bank of Canada Capital Markets ("RBC") acted as financial advisor to UU and Norton Rose Fulbright ("NRF") acted as legal advisor.

Steve Mogford, UU CEO said "We are committed to our ambitious carbon pledges and target of achieving net zero carbon emissions by 2030. A key part of setting the foundations for that goal has been our renewable energy portfolio that, in recent years, we have built across our UU sites. With the portfolio now fully built-out and operating well, we are excited about the opportunity to recycle our investment in these assets to support the next steps in our plans to achieve net zero".

"We are confident that SEEIT will be an excellent long-term partner for the UU group, as the UURE asset portfolio moves into the next phase of its life cycle".


https://www.investegate.co.uk/united-ut ... 00060931S/

Ian.

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Re: United Utilities Group (UU.)

#518874

Postby SPURLEY » August 1st, 2022, 6:25 pm

United Utilities dividend paid today - 1st August , not in my bank account as yet , has anyone received theirs ?

moorfield
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Re: United Utilities Group (UU.)

#518881

Postby moorfield » August 1st, 2022, 6:44 pm

270160 wrote:United Utilities dividend paid today - 1st August , not in my bank account as yet , has anyone received theirs ?


Nope, had a message from AJ Bell today that funds not received yet.

idpickering
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Re: United Utilities Group (UU.)

#518995

Postby idpickering » August 2nd, 2022, 6:47 am

moorfield wrote:
270160 wrote:United Utilities dividend paid today - 1st August , not in my bank account as yet , has anyone received theirs ?


Nope, had a message from AJ Bell today that funds not received yet.


Not in my account held with Halifax either? Tbh, they can be a bit slack sometimes, Halifax I mean.

Ian.

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Re: United Utilities Group (UU.)

#519076

Postby SPURLEY » August 2nd, 2022, 11:06 am

I checked my bank account this morning and my United Utilities dividend was in on 1st August -- it must have been put in very late in the day .

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Re: United Utilities Group (UU.)

#519120

Postby daveh » August 2nd, 2022, 12:14 pm

idpickering wrote:
moorfield wrote:
270160 wrote:United Utilities dividend paid today - 1st August , not in my bank account as yet , has anyone received theirs ?


Nope, had a message from AJ Bell today that funds not received yet.


Not in my account held with Halifax either? Tbh, they can be a bit slack sometimes, Halifax I mean.

Ian.

No sign at HSDL for me either today (2Aug), it will probably turn up late today as its not paid in FX which can take a couple of extra days.

idpickering
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Re: United Utilities Group (UU.)

#519140

Postby idpickering » August 2nd, 2022, 12:52 pm

daveh wrote:No sign at HSDL for me either today (2Aug), it will probably turn up late today as its not paid in FX which can take a couple of extra days.


Thanks for your input. Halifax have form for being slow in processing such things. You'd think nowadays it'd as easy as tapping a key on a keyboard.

Ian.

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Re: United Utilities Group (UU.)

#519162

Postby kenko92 » August 2nd, 2022, 1:48 pm

Ditto for Barclays but they are often late.

idpickering
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Re: United Utilities Group (UU.)

#519225

Postby idpickering » August 2nd, 2022, 5:06 pm

idpickering wrote:
daveh wrote:No sign at HSDL for me either today (2Aug), it will probably turn up late today as its not paid in FX which can take a couple of extra days.


Thanks for your input. Halifax have form for being slow in processing such things. You'd think nowadays it'd as easy as tapping a key on a keyboard.

Ian.


Further to my last, I still haven't received the dividend thus far. I spoke to Halifax earlier and was told they hadn't received it themselves yet. On receipt of it they'd process it/pay it out as is normal practise.

Ian.

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Re: United Utilities Group (UU.)

#519385

Postby peterh » August 3rd, 2022, 9:50 am

idpickering wrote:Further to my last, I still haven't received the dividend thus far. I spoke to Halifax earlier and was told they hadn't received it themselves yet. On receipt of it they'd process it/pay it out as is normal practise.

Ian.

Further update - the UU. dividend hit my Halifax account in the last hour or so.


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