Severn Trent Reports Strong Profits and Shareholder Payments for 2022-2023 Financial Year
Severn Trent, a midlands and Wales water company, has reported an increase in profits and shareholder payments for the year ending March 2023.
The company's profits before tax and interest reached £508.8m, up from £506.2m the previous year.
Shareholder payments are estimated to be worth more than £260m, with a dividend of £1.06 per share proposed, 4p more per share than last year.
The head of the industry body UK Water last week apologised for not acting quickly enough on sewage spills, and Severn Trent acknowledged that the industry should have given sewage "much more attention" and "acted faster".
However, the company did not repeat the apology in its annual results.
The Environmental Agency reported that there were 301,091 sewage spills last year, an average of 824 a day, from all 10 water and sewerage companies in England.
Shareholder payments are estimated to be worth more than £260m, with a dividend of £1.06 per share proposed, 4p more per share than last year.
The head of the industry body UK Water last week apologised for not acting quickly enough on sewage spills, and Severn Trent acknowledged that the industry should have given sewage "much more attention" and "acted faster".
However, the company did not repeat the apology in its annual results.
The Environmental Agency reported that there were 301,091 sewage spills last year, an average of 824 a day, from all 10 water and sewerage companies in England.