Severn Trent announce an interim dividend of 40.63 pence.

DividendMax Ltd.

Severn Trent announce an interim dividend of 40.63 pence.

The Severn Trent Board has declared an interim ordinary dividend of 40.63p per share (2019/20: 40.03p per share), which will be paid on 6 January 2021 to shareholders on the register at 4 December 2020.

Other financial highlights include:

Group turnover of £888 million in line with expectations, down £22 million (2.5%), including £33 million as a result of consumption, largely driven by COVID-19 related decrease in metered revenue. Ofwat regulatory model allows us to recover this revenue in two years.

Group underlying PBIT3 of £226 million, down £61 million (21.2%) and Group reported PBIT of £225 million, down £61 million (21.3%), both impacted by reduced revenue, increased bad debt provisioning for COVID-19, higher depreciation and timing of property profits.

Effective interest cost reduced by a further 40 bps to 3.3%, from 3.7% at the full year.

Strong financial resilience following sustainable bond issue £300 million and one year extension of our RCF - £890 million of undrawn facilities.

Underlying basic EPS5 of 51.3 pence (down 25.4%) and basic EPS of 42.7 pence (down 30.8%), reflecting lower PBIT.

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