SSE PLC an interim dividend of 25.5p per share

DividendMax Ltd.

SSE PLC an interim dividend of 25.5p per share

SSE PLC announce a final dividend of 56.6p per ordinary share. This was declared in respect of the financial year ended 31 March 2021 (2020: 56.0p) and was approved at the Annual General Meeting on 22 July 2021 and was paid to shareholders on 23 September 2021. Shareholders were able to elect to receive ordinary shares credited as fully paid instead of the cash dividend under the terms of the Company's scrip dividend scheme.

An interim dividend of 25.5p per ordinary share (2020: 24.4p) has been proposed and is due to be paid on 10 March 2022 to those shareholders on the SSE plc share register on 14 January 2022. The proposed interim dividend has not been included as a liability in these financial statements. A scrip dividend will be offered as an alternative.

Other financial highlights include:

Adjusted EPS up 44% to 10.5p, just above SSE's guided range of between 7.5p and 10p and reflecting improved performance across a number of businesses in the second half of September.

Reported EPS up 65% to 103.6p, mainly due to mark-to-market revaluation gains on operating derivatives of c£1.2bn in the period, a result of recent market volatility.

As previously announced, Renewables profitability in the first half was adversely impacted by exceptionally unfavourable weather conditions (25% or 1.1TWh below the comparative period), and the associated requirement to buy back hedges in volatile markets.

This was more than offset by higher volumes and revenue allowances in regulated networks, and a strong performance from non-core businesses, notably gas storage

Adjusted investment and capital expenditure up 140% to £1,042.8m reflecting the strong progression of the Group's capital investment strategy following coronavirus, and the impact from one-off project finance development expenditure refunds in the prior period.

Adjusted net debt and hybrid capital at £9.6bn, reflecting increased investment and capital expenditure.

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