South West Water owner taps investors to fix infrastructure after sewage spills
Pennon slashes dividend and launches £550m cash call ‘to drive improved outcomes for customers and communities’The owner of embattled South West Water has slashed its dividend and launched a cash...
By Joanna Partridge · The Guardian World
Pennon slashes dividend and launches £550m cash call ‘to drive improved outcomes for customers and communities’ The owner of embattled South West Water has slashed its dividend and launched a cash call to investors as it attempts to fund infrastructure investment, days after it was hit by a record £7.9m fine for hundreds of sewage spills. London-listed Pennon said on Wednesday it would tap investors for £550m, as part of a £1bn investment “to drive improved outcomes for customers and communities”. Continue reading...