The United Utilities Group Board has proposed a final dividend of 28.83 pence per ordinary share in respect of the year ended 31 March 2021. Taken together with the interim dividend of 14.41 pence per ordinary share, paid in February, this results in a total dividend per ordinary share for 2020/21 of 43.24 pence. This is an increase of 1.5 per cent compared with the 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 1.5 per cent is based on the CPIH element included within the allowed regulated revenue increase for the 2020/21 financial year (i.e. the movement in CPIH between November 2018 and November 2019).
Other fiinancial highlights include:
Underlying profit after tax of £383m down 21%; in line with expectation
Maintained resilient customer debtor position with only £12m aged over 1 year
Strong balance sheet; A3 stable credit rating with Moody's
Fully funded pension schemes driving relative value on a cash basis
4.3% return on regulated equity (RoRE) for 2020/21