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Severn Trent confirms dividend and steps up green initiatives

“We are in constructive dialogue with Ofwat and DEFRA on potential investment opportunities for Severn Trent as part of the Government's Green Recovery initiative"

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Severn Trent PLC (LON:SVT) said its results this year are on track and it will pay the expected dividend as it highlighted its green credentials.

In a trading statement, the FTSE 100 group said: “In Waste, we have started the AMP [latest regulatory period] strongly with 25% fewer blockages and a 15% reduction in pollutions in the calendar year. Our biodiversity programme is on track to deliver over 2,200ha of enhanced natural environment, delivering our five-year target in the first year of the AMP."

The water and waste utility added: “We are in constructive dialogue with Ofwat and DEFRA on potential investment opportunities for Severn Trent as part of the Government's Green Recovery initiative.

“We submitted a number of proposals on 31 January and look forward to continuing our discussions during the review process, which we expect to conclude by September 2021.

“As well as providing meaningful RCV growth on top of our 4% growth rate for AMP7, we believe our proposals would support our environmental ambitions, create much-needed jobs in our region and support national sustainability objectives on climate change, flood resilience, river water quality and water consumption."

Severn Trent concluded: “We remain confident of delivering our full-year results in line with expectations and prior guidance. The Severn Trent Plc Board confirms this year's final dividend in line with our AMP7 policy.”

The group's final dividend is expected to be 101.58p per share, up from last year’s 100.08p, as the interim payout was raised by 1.5% to 40.63p.

 

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