Centrica rebase dividend as expected to 5p

DividendMax Ltd.

Centrica rebase dividend as expected to 5p

As expected, Centrica rebase their dividend from 12p to 5p, paying 1.5p at the interim stage. 2019 full year expected dividend rebased to 5.0p per share reflecting changed circumstances, including the UK default tariff price cap, and additional pension deficit contributions and restructuring charges.

In other financial news:

A challenging environment in H1 2019 impacted adjusted earnings and adjusted operating cash flow.

Overall growth in Centrica Consumer customer accounts of 314,000. UK Home accounts down 38,000 with energy supply accounts down 178,000, but with growth in May and June. UK services accounts up 140,000.

2019 full year adjusted earnings expected to be weighted towards H2, providing momentum into 2020.

Continue to expect to meet 2019 full year Group financial targets, including adjusted operating cash flow in the range £1.8bn-£2.0bn and net debt in the range £3.0bn-£3.5bn.

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