United Utilities ups dividend as revenue tops £1.8bn

Warrington-based United Utilities, the UK’s largest listed water company, said its revenue rose £83 million to £1.8 billion and underlying profit before tax rose £90 million to £460 million in the year ended March 31, 2019.

The firm, which supplies water to around three million homes and 200,000 businesses in the north-west of England, has proposed a final dividend of 27.52p, taking the total dividend for 2018-19 to 41.28p, an increase of 3.9%.

United Utilities’ regulatory capital investment in 2018-19 was £821 million, and the firm expects to make £3.9 billion of capital investment across its 2015-20 regulatory period.

Net debt including derivatives at March 31 was £7.067 billion, up from £6.868 billion last year. 

United Utilities CEO Steve Mogford said: “We are well placed for the remainder of the current regulatory period and beyond as we maintain our focus on providing great service to customers and creating long-term value for all of our stakeholders.”