BIRMINGHAM (dpa-AFX) - Severn Trent plc (SVT.L) reported group profit after tax for the year ended 31 March 2021 increased to 212.2 million pounds or 88.6 pence per share from 158.8 million pounds or 66.3 pence per share in the prior year.
But, profit on ordinary activities before taxation was 267.2 million pounds down from 310.7 million pounds in the previous year.
Group turnover was 1.83 billion pounds, down 0.9%, with 50 million pounds net impact of lower consumption due to COVID-19 lockdowns, the regulatory model allows the company to recover this later in the AMP.
The board has proposed a final ordinary dividend of 60.95 pence per share for 2020/21, compared to 60.05 pence per share. The final ordinary dividend is payable on 16 July 2021 to shareholders on the register at 28 May 2021.
Separately, Severn Trent said it plans to conduct an equity placing through the issue of new ordinary shares to raise about 250 million pounds of gross proceeds that will be used to fund the Green Recovery projects.
The proceeds of the Placing, Retail Offer, and Subscription will be used to fund the six projects under the Green Recovery Award.
Copyright RTT News/dpa-AFX
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