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Severn Trent announce interim dividend of 40.03p

Investment Tools Ltd.
Severn Trent announce interim dividend of 40.03p

The Severn Trent Board has declared an interim ordinary dividend of 40.03p per share (2018/19: 37.35p per share), which will be paid on 3 January 2020 to shareholders on the register at 29 November 2019.

Other financial highlights include:

− Group turnover of £910.0 million, up £28.5 million (3.2%)

− Group underlying PBIT3 of £286.3 million, down £12.8 million (4.3%), following Teal Close property sale in the prior year, deferral of customer ODIs and increased investment in infrastructure renewals

− Group reported PBIT of £285.3 million, down £13.8 million (4.6%)

− Further fall in effective interest rate from last year end of 20 basis points to 3.7%, part of a reduction of 170 basis points in AMP6, positioning us well for AMP7

− Underlying basic EPS4 of 68.8 pence (down 9.7%) and basic EPS from continuing operations of 61.7 pence (down 11.6%), reflecting lower PBIT and our share of the loss from our joint venture, Water Plus

− IAS 19 pension deficit reduced by £62 million to £391 million; future funding plans now agreed

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