The Severn Trent PLC Board has declared an interim ordinary dividend of 40.86p per share (2020/21: 40.63p per share), which will be paid on 7 January 2022 to shareholders on the register at 3 December 2021.
Other financial highlights include:
Group turnover of £958 million in line with expectations, up £71 million (8.0%), as a result of a strong recovery in non-household consumption following the lifting of lockdown restrictions
Group PBIT of £256 million, up £31 million (13.8%)
Effective interest cost of 4.2% (2020/21: 3.3%) reflecting higher inflation, effective cash cost of interest unchanged at 3.1%, with two thirds of debt fixed at low-cost rates
Strong balance sheet, including reduction in pension deficit to £292 million, supporting over 10% RCV growth for AMP7
Adjusted basic EPS of 54.4 pence, up 6% (basic loss per share of 73.0 pence, reflecting an exceptional deferred tax charge from the change in corporation tax rate)
