The Pennon Group Board has declared an interim dividend of 11.70 pence, representing an increase of 4.9% on the adjusted base for H1 2020/21. The interim dividend will be paid on 5 April 2022 to shareholders on the register on 28 January 2022. Pennon offers shareholders the opportunity to invest their dividend in a Dividend Reinvestment Plan (DRIP).
Other financial highlights include:
+21.8% underlying revenue, with Bristol Water contributing £41.6 million
+8.8% organic underlying revenue primarily due to a recovery in non-household demand both in and out of region and contributing contract wins from Pennon Water Services
+1.8% organic underlying EBITDA growth with higher costs to serve driven by high levels of demand and cost pressures from macro-economic factors
+14.3% underlying EBITDA growth with contribution from Bristol Water from 3 June 2021
+29.1% increase in profit before tax
+4.3% increase in underlying profit before tax with contribution from underlying EBITDA growth offsetting increased interest charges on index-linked debt
+14.2% increase in adjusted earnings per share (adjusted for share consolidation)
Loss per share of 6.3 pence (H1 2020/21 earnings of 420.9 pence) reflecting non-underlying costs, primarily related to deferred tax charge (£96.9 million) for the future change in tax rate
