Latest News

Pennon customers opt for cash from Watershare+ payout


Pennon Group PLC (LON:PNN), the south-west water utility, has said that nearly 95% of customers had taken their Watershare+ payout in cash rather than shares in the company.

The FTSE 100 group launched Watershare+ last month as a way for customers to benefit directly if beat its regulatory targets.

The utility said it would pay out £20mln or £20 per customer through the Watershare+ scheme with customers having the option of accepting shares in Pennon instead of a £20 credit to their bill.

Just over 100,000 shares in the company had been bought by customers using their WaterShare+ dividend, Pennon said today, at a cost of £1.9mln with one in 16 households becoming shareholders through the scheme.

In a statement, Susan Davy, Pennon’s chief executive, said: “We’re very pleased with the positive response we’ve had to this trailblazing initiative.

 “This landmark step for a listed utility opens up a new kind of share ownership scheme for customers, connecting them with their water company in a way that has never been done before.” 

FTSE 100 rocks on despite UK services and manufacturing activity sliding in October

Previous article

Kavango surges after latest update on the Kalahari Suture Zone

Next article

You may also like


Leave a reply

Your email address will not be published.

More in Latest News