The United Utilities Group PLC Board has announced an interim dividend of 17.28 pence per ordinary share in respect of the six monthsended 30 September 2024. This is an increase of 4.2 per cent compared with the interim dividend last year, in line with the group's dividend policy of targeting a growth rate of CPIH inflation each year through to 2025. The 4.2 per cent increase is based on the CPIH element included within allowed regulated revenue for the 2024/25 financial year (i.e. the movement in CPIH between November 2022 and November 2023).
Other financial highlights include:
Underlying operating profit of £336m, reported operating profit of £333m
Underlying EPS of 26.8p, up from 13.2p, reported EPS of 15.1p
Low level of gearing at 60% and solid credit ratings providing future financial flexibility
£2.6 billion of liquidity extending into FY27; AMP8 funding underway
