The Board has recommended a final dividend of 30.33p per share for 2023/24. Together with the interim dividend of 14.04p paid on 5 April 2024 this gives a total dividend for the year of 44.37p. This represents an increase of 3.84% on 2022/23 which is per our policy (March 2024 CPIH + 2%) with a 1.96% reduction for the £2.4 million fine from the Environment Agency.
Subject to approval at the AGM on 24 July 2024, the final dividend will be paid on 5 September 2024 to all shareholders on the register on 26 July 2024.
The dividend policy is underpinned by our sustainable earnings and growth strategy with expectations for continued outperformance during the regulatory period supporting sustainable dividend growth and dividend cover.
(1) Consumer price index including owner occupiers’ housing costs, which aligns with the regulatory inflation measure being used for the K7 regulatory period (2020-25).