The Severn Trent Board has declared an interim ordinary dividend of 42.73p per share (2021/22: 40.86p per share), which will be paid on 11 January 2023 to shareholders on the register at 2 December 2022.
Other financial highlights include:
Guiding to double-digit real Return on Regulated Equity ('RoRE') for FY23, with ODIs of at least £50 million, totex in line with allowance, and strong financing outperformance.
First half Group PBIT of £261.7 million up 2.4% year-on-year, reflecting increase in Group turnover (£1,061.8 million, up £103.6 million) and strong cost control.
Increasing property PBIT guidance by a further £50 million, with planned PBIT from sales of surplus land now £150 million between 2017 and 2032.
Adjusted basic EPS of 29.9 pence (2021/22: 54.0 pence) reflecting PBIT growth offset by impact of inflation on index-linked debt. Basic EPS of 31.4 pence (2021/22: loss of 73.0 pence).
2022 pension valuation agreed, with contributions unchanged. IAS19 deficit of £142.6 million.