United Utilities Group (UU.)

Sector:

Utilities

Index:

FTSE 100

1,022.50p
   
  • Change Today:
    -20.00p
  • 52 Week High: 1,125.00p
  • 52 Week Low: 958.80p
  • Currency: UK Pounds
  • Shares Issued: 681.89m
  • Volume: 2,070,450
  • Market Cap: £6,972m
  • RiskGrade: 118

United Utilities hikes dividend even as revenue falls

By Josh White

Date: Wednesday 25 Nov 2020

LONDON (ShareCast) - (Sharecast News) - United Utilities reported a 16% fall in its underlying profit after tax for the first half on Wednesday, to £174m, which it said reflected new price controls.
The FTSE 100 company said its revenue for the six months ended 30 September totalled £894.4m, down from £935.5m.

It declared an interim dividend of 14.41p per share, rising from the 14.2p it paid at the interim last year.

The firm said its customer debtor position and household cash collection remained strong, adding that household bad debt was stable in the first half at 1.8%.

It also described a strong balance sheet, with its A3 stable credit rating with Moody's maintained, as its pension schemes were fully funded on a low-dependency basis.

The board reaffirmed its dividend policy for asset management period 7 (AMP7), of growth in line with CPIH inflation.

"Our focus throughout the Covid-19 pandemic has been on supporting customers, protecting our colleagues and maintaining essential services," said chief executive officer Steve Mogford.

"We have continued to provide high quality water and wastewater services to more than three million households in the north west thanks to the extraordinary hard work and dedication of my colleagues, many of whom are key workers.

"Average customer bills have reduced by 7% in real terms this year, but we recognise that for many in our region, these are still challenging times."

Mogford said that, to accommodate customers struggling to pay bills, it offered "the sector's widest range" of financial assistance schemes, adding that the company had also acted "swiftly" to increase the number of customers eligible for reduced tariffs.

"Despite the pandemic, our operational performance in this first year of the new regulatory period is on track.

"We are accelerating our capital expenditure to bring forward benefits and help support 17,700 jobs in the supply chain.

"We recognise the role that we can play in a successful society, economy and a thriving natural environment and are confident in our ability to deliver our AMP7 plans to achieve this."

The company now had a clearer understanding of the impact of Covid-19 on its business, Mogford said, which remained "robust" and supported by a strong balance sheet.

"This, together with a stabilised inflation outlook supported by central bank policy and government actions, gives us the confidence to reaffirm our responsible AMP7 dividend policy of growth in line with CPIH inflation."

At 0837 GMT, shares in United Utilities were up 3.12% at 924.2p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

United Utilities Market Data

Currency UK Pounds
Share Price 1,022.50p
Change Today -20.00p
% Change -1.92 %
52 Week High 1,125.00p
52 Week Low 958.80p
Volume 2,070,450
Shares Issued 681.89m
Market Cap £6,972m
RiskGrade 118

United Utilities Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
69.48% below the market average69.48% below the market average69.48% below the market average69.48% below the market average69.48% below the market average
66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average
Price Trend
3.65% below the market average3.65% below the market average3.65% below the market average3.65% below the market average3.65% below the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average
Income
0.13% above the market average0.13% above the market average0.13% above the market average0.13% above the market average0.13% above the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average
Growth
82.45% below the market average82.45% below the market average82.45% below the market average82.45% below the market average82.45% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 8
Sell 1
Strong Sell 0
Total 13
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

United Utilities Dividends

  Latest Previous
  Final Interim
Ex-Div 20-Jun-24 21-Dec-23
Paid 01-Aug-24 01-Feb-24
Amount 33.19p 16.59p

Trades for 31-Oct-2024

Time Volume / Share Price
16:39 8,703 @ 1,022.50p
16:39 1,123 @ 1,022.50p
16:39 1,053 @ 1,022.50p
16:35 1,820 @ 1,022.50p
16:35 1,153 @ 1,022.50p

United Utilities Key Personnel

Chair David Higgins
CFO Phil Aspin
CEO Louise Beardmore

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