Pennon slashes dividend and launches £550 m cash call ‘to drive improved outcomes for customers and communities’ The owner of embattled South West Water has slashed its dividend and launched a cash call to investors as it attempts to fund infrastructure investment, days after it was hit by a record £7.
9 m fine for hundreds of sewage spills. London-listed Pennon said on Wednesday it would tap investors for £550 m, as part of a £1 bn investment “to drive improved outcomes for customers and communities”. Continue reading...