Pennon taps shareholders for £490m as water bills go up
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Pennon Group PLC is raising £490 million from shareholders, increasing water bills, and committing to higher dividends. The company has agreed to a new price regime with Ofwat, involving a £3.2 billion investment to improve infrastructure and address sewage issues.
January 29, 2025 | 10:00 am
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Pennon Group PLC is raising £490 million from shareholders, increasing water bills, and committing to higher dividends. The company has agreed to a new price regime with Ofwat, involving a £3.2 billion investment to improve infrastructure and address sewage issues.
The capital raise and increased dividends are likely to be seen positively by investors, indicating financial health and commitment to shareholder returns. The regulatory agreement and investment plan may improve long-term operational performance, further supporting stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90