Severn Trent PLC (LON:SVT) made no comment on whether it will pay its forecast dividend during the current coronavirus crisis.
Trading has been largely unaffected by the virus outbreak said the water utility with the company’s core business deemed an essential service though its WaterPlus joint venture is under pressure.
Severn Trent has forecast a dividend of 100.08p in total for the year to March, costing around £240mln.
Of that, 40.03p was paid in January, but many listed companies have now scrapped future payments to build up cash while the uncertainty persists.
The FTSE 100 group added net interest costs will be lower than expected this year even though debt has risen.
Severn Trent has just received the £200mln proceeds of its first debt placement in the US and now has cash and facilities of more than £1.1bn.
“Given the uncertainty of how the situation will develop, we will continue to closely monitor our cash flows and update our contingency planning accordingly,” it said.
Shares rose 1% to 2,350p.