Severn Trent announce an interim dividend of 42.73 pence

DividendMax Ltd.

Severn Trent announce an interim dividend of 42.73 pence

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.

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