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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| United Utilities Group Plc | UU. | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -18.50 | -1.74% | 1,045.50 | 16:29:59 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1,060.50 | 1,028.00 | 1,060.50 | 1,045.50 | 1,064.00 |
| Industry Sector |
|---|
| GAS WATER & UTILITIES |
| Top Posts |
|---|
Posted at 15/4/2024 12:32 by claretmatt That and the release of sewer outfall data. Bumpy ride for a while, at least until the OFWAT determination at the back end of the year and we start to see some positive data that the company is starting to make strides in tackling the outfall issue. Although is doesn't look great atm, UU are able to invest early in some of there problem sites which should provide an early positive impact. All going well and UU receives a positive determination, the next issue will be the supply chain as regards getting all the construction completed in good time. It's not just UU looking to invest heavily. It will take time for the supply chain to ramp up with staff etc to cope with the demand. Communication with large investors is going to be key in the next 12 months to stop them he jittery feet. |
Posted at 28/6/2023 13:03 by peterbill Whitehall draws up emergency plan to nationalise Thames WaterCompany scrambles to secure £1bn from shareholders Thames Water – owned by a consortium of pension funds and sovereign wealth funds – has come under pressure in recent years over its poor performance in tackling leaks and sewage contamination, An emergency nationalisation of Thames Water is being considered by ministers as the company scrambles to secure £1bn from shareholders. The Government is drawing up contingency plans for the collapse of the utility company it battles to pay down a £14bn debt pile. Ministers are in talks about the possibility of temporarily bringing the utility company back into public hands under a so-called special administration regime (SAR). The discussions are understood to be taking place between water regulator Ofwat, the Department for Environment, Food and Rural Affairs (Defra) and the Treasury. It comes after Thames Water chief executive Sarah Bentley stepped down with immediate effect on Tuesday amid mounting worries over the financial stability of the firm. Environment minister Rebecca Pow told the Commons that Britain’s water industry is “financially resilient,” adding there is a lot of behind-the-scenes work happening with Thames Water. She said customers “should rest assured” that their water supplies will be protected. She said: “The sector as a whole is financially resilient and Ofwat continues to monitor the financial position of all the key water and wastewater companies.” Asked about Thames Water, she said it was not her place to comment on an individual company’s financial position. She was responding to an urgent question by shadow environment secretary Jim McMahon, who said: “Just last year, as raw human sewage was being pumped out across the country, £1.4bn was paid out to shareholders. “And now all that was warned is coming to pass. Leaks are leading to water shortages, sewage dumping pollutes our rivers, our lakes, our seas and the only thing on the up is debt.” Thames Water’s debts plunged in value on Wednesday as the City increased bets that lenders will not be repaid. One of the utility company’s bonds – issued by Kemble Finance and due in 2026 – has fallen by 35 pence on the pound. The 41pc drop to about 50.7p means effectively that investors believe there is only a 50/50 chance that lenders will be repaid. The company said on Wednesday that it is “continuing to work constructively with its shareholders” as it seeks more funding for its turnaround plan. In a statement to investors, bosses said water regulator Ofwat is being kept fully informed on the progress of the company’s turnaround and engagement with shareholders. Sarah Bentley Thames Water boss Sarah Bentley stepped down with immediate effect on Tuesday CREDIT: Thames Water/PA It said Thames Water continues to “maintain a strong liquidity position”, saying that as of March this year it had £4.4bn of cash and committed funding. An Ofwat spokesman said: “We monitor the financial position of all the key water and wastewater companies. We have been in ongoing discussions with Thames Water on the need for a robust and credible plan to turn the business around and transform its performance for customers and the environment. We will continue to focus on protecting customers’ interests.” Thames Water is the UK’s biggest water supplier and provides water services for 15m people in London and the South East. The firm is racing to raise £1bn from investors to shore up its finances, with AlixPartners advising on its turnaround plans. A Government spokesman said: “This is a matter for the company and its shareholders. “We prepare for a range of scenarios across our regulated industries – including water – as any responsible government would. “The sector as a whole is financially resilient. Ofwat continues to monitor the financial position of all the key water and wastewater companies.” Thames Water – owned by a consortium of pension funds and sovereign wealth funds – has come under pressure in recent years over its poor performance in tackling leaks and sewage contamination, while facing criticism for handing out big rewards to top bosses and shareholders. Ms Bentley, who was appointed in 2020, said in May that she would give up her bonus after the company’s environmental and customer performance suffered. But even after giving up the bonus, the chief executive managed to double her pay, raking in £1.5m. On announcing her departure, she said: “The foundations of the turnaround that we have laid position the company for future success to improve service for customers and environmental performance.” Earlier Britain’s top infrastructure official said it is “probably not unrealistic” that water bills will rise by 40pc to tackle the problem of sewage flowing into rivers and the sea. Sir John Armitt, chairman of the National Infrastructure Commission, said that it would cost £50bn over the next 25 to 30 years to fix sewage overflows polluting Britain’s waters. He added that £20bn would be needed to ensure the UK has sufficient water by 2050. “As a country we have to decide what quality and what level of infrastructure we require. We then have to decide whether we want to pay for it and if we can afford to pay for it. |
Posted at 28/6/2023 11:24 by smurfy2001 United has gross debt of £8.4bn could it also get into trouble?Government 'prepared for range of scenarios' amid fears of Thames Water collapse Contingency plans are being drawn up amid growing doubts in Whitehall about the ability of the firm to service its £14bn debt-pile. |
Posted at 02/8/2022 12:44 by laurence llewelyn binliner The dividend has just appeared in the corporate actions with Barclays Smart Investor, so a payment work in progress, maybe it will land this afternoon..It prints once the funds are received and reconciled against what they should receive, only then does it go out for distribution, if there is a problem with received amounts vs what they should receive it all gets sent back to the issuer and has to come in a 2nd time for reconciling.. (edit) now received.. :o) |
Posted at 13/8/2021 14:13 by mach100 Sorry to be a drip but my theory about the share price being walked down after the MM's have captured the divi investors has been blown out of the water it seems. I don't think it is an ATH actually as I am sure I paid 1108p, certainly over 1100, for one divi reinvestment which is eye-watering. |
Posted at 01/10/2020 10:29 by wad collector I missed this last week;24 September 2020 UNITED UTILITIES TRADING UPDATE United Utilities announces the following trading update ahead of its half year results on 25 November 2020. Current trading is in line with the group's expectations for the six months ending 30 September 2020. COVID-19 Our focus throughout the COVID-19 pandemic continues to be on supporting customers in the provision of essential services whilst protecting our colleagues. Throughout the pandemic, we have continued to supply drinking water, take away wastewater and carry out essential repairs for over 3 million households in the North West. We have also acted swiftly to support customers who are struggling to pay their bills through our extensive financial assistance schemes. Increasing numbers of vulnerable customers are being supported through our Priority Services scheme. Operational performance Operational performance in the first half of the year is on track against our AMP7 plan, notwithstanding the pandemic, and we continue to target net outcome delivery incentive (ODI) outperformance for the full year 2020/21. We have been able to accelerate our capital expenditure profile for AMP7 (compared with the assumed profile in the final determination) to deliver benefits earlier than would otherwise be the case, as was successfully achieved in AMP6. Strong environment, social and governance (ESG) credentials Earlier in September, we were pleased to be recognised for our approach to sustainability: we are one of only eight UK listed companies to be included in the Global Challenges Index (GCX) that recognises the top 50 companies worldwide for their approach to sustainability; and we achieved 11(th) position in EcoAct's FTSE100 leaderboard for how we report our sustainability performance. Also in the month, we launched an investor guide(1) to our long-standing commitment to ESG, detailing key achievements to date and our ambitions for the future. Financials Cash collection from our household customer base has been consistent with the targets that we set before the COVID-19 pandemic. Although we anticipate bad debt may increase as government support schemes come to an end, we secured early agreement during the pandemic to extend our social tariff and this, combined with our extensive range of financial assistance schemes, underpins our confidence in the adequacy of the provision we made at the March 2020 year end. Group revenue is expected to be lower than the first half of last year, largely reflecting our allowed regulatory revenue changes and lower consumption from businesses as a result of COVID-19, partly offset by higher consumption from households. Overall, the net reduction in revenue in the first half of the year is expected to be around 5 per cent. Underlying operating profit for the first half of 2020/21 is expected to be lower than the first half of 2019/20 largely reflecting the lower revenue and an anticipated moderate increase in infrastructure renewals expenditure (IRE). The rate of inflation that is applied to the group's index-linked debt is lower for the first half of the year and we therefore expect the underlying net finance expense for the first half of 2020/21 to be around GBP30 million lower than the first half of last year. As the company continues to invest in its asset base we expect a small increase in group net debt at 30 September 2020 compared with the position as at 31 March 2020. O |
Posted at 17/1/2020 09:31 by mach100 The current price is a relief as my investment has been underwater for a long time. I couldn't believe how low it sank but with the idea of nationalising utilities no longer being floated, the nice divi means UU. are a safe proxy bond for investors. No reason this can't hit 1050p. The only thing that might make investors bale is the acceptance or not of Ofwat's final determination within a month now. |
Posted at 05/11/2019 23:22 by wad collector An exciting time for traders in the UK market for the next 6 weeks. Less so for investors , though the utilities are going to be a barometer of the political trend for that period. Are holders going to see the eradication of nationalisation threats or the eradication of our holdings? Or something in-between with some fudged coalition and more uncertainty?I somehow doubt these will still be 840p post election , they will either be 300p takeovers or 1500p cashcows. (I am guessing the nationalisation value but it won't be current market price that is for sure). I will observe with a lot of interest , not brave enough to sell up and not brave enough to buy more. |
Posted at 16/10/2019 13:39 by claretmatt DWI final determination looking good for UU or is it dawning on investors that Corbyn will never be PM? |
Posted at 22/7/2018 08:00 by waldron Fury at United Utilities as it pays £180m dividend: Experts say plug the leaks before rewarding your City investorsBy Jamie Nimmo, Financial Mail On Sunday Published: 21:58 BST, 21 July 2018 | Updated: 21:58 BST, 21 July 2018 The water giant set to impose a hosepipe ban on seven million customers is poised to lavish shareholders with a dividend payment of more than £180 million, The Mail on Sunday can reveal. United Utilities will hand out the bumper cash payment on August 3 – just two days before the use of garden hoses is outlawed in the North West of England. Most of the money will be given to big City institutions. The news is bound to enrage customers who will face fines of up to £1,000 if they dare to use hosepipes or sprinklers during the heatwave. Outlawed: United Utilities is set to impose a hosepipe ban on seven million customers in the North West of England +3 Outlawed: United Utilities is set to impose a hosepipe ban on seven million customers in the North West of England Water companies have come under fire for putting shareholders above customers by paying out too much in dividends and not investing enough to reduce leakages, which could avoid the need for hosepipe bans in the first place. The nine major water utilities made £18.8 billion in post-tax profits in the decade to 2016, but paid out almost all of that – £18.1 billion – in dividends. United Utilities – headed by chief executive Steve Mogford – hopes the hosepipe ban will save 22 million gallons of water daily. However, more than four times that volume is lost to leaks each day in the area covered by the company, figures from water regulator Ofwat show. Professor David Hall, a water industry expert at the University of Greenwich, said water companies should pay out less in dividends and instead use the money to cut leaks by improving their infrastructure. 'The money is available,' he said. 'But it's not reaching the right places – which are the leaks. It's reaching the wrong places – which are the pockets of shareholders.' He added: 'Every water company in the world should be planning its resources so as to be able to cope with the worst scenarios. And the water companies clearly haven't been doing that. It's been a month of hot weather, but it's following a wet winter and spring. This isn't really extreme circumstances.' Boss: United Utilities chief Steve Mogford +3 Boss: United Utilities chief Steve Mogford United's upcoming dividend payment is the single biggest payday in a decade for shareholders of the FTSE 100 firm, which has dished out more than £1 billion to investors in the last four years alone. The company's largest shareholders include US financial giant BlackRock along with global asset management firm Lazard. Both will rake in more than £12 million. On Friday, rival Severn Trent paid out a £123 million dividend, while South West Water's owner Pennon is set to funnel £112 million to shareholders in September. Thames Water last month announced it would halt bonuses to bosses this year and suspend dividend payments to its shareholders, which include a Canadian pension fund and the sovereign wealth funds of China, Kuwait and Abu Dhabi. The decision followed criticism from Ofwat, which forced Thames to repay £15 to each customer over the next two years for failing to tackle leaks. In February, United announced it had recruited a spaniel called Snipe who has been trained to sniff out leaks. Labour leader Jeremy Corbyn has been a critic of the water firms and the party's manifesto last year called for renationalisation. Environment Secretary Michael Gove attacked water companies earlier this year for paying little or no corporation tax. He said: 'Ten years of shareholders getting millions, the chief executive getting hundreds of thousands and the public purse getting nothing.' +3 His criticism prompted Ofwat to launch a consultation on how water companies could share more profits with customers. Rachel Fletcher, Ofwat's chief executive, said companies need to 'make sure they've met their obligations to customers before making dividend payments'. Last month, Ofwat called for 'clear improvements' in how they plan for droughts. United Utilities said its total dividend of 39.73p a share is in line with a 'five-year growth policy' of payouts that rise in line with retail price inflation. It added that in the five years to 2020 it is investing more than £3.5 billion in 'essential infrastructure'. Share or comment on this article: United Utilities pays £180m dividend: Experts say plug leaks before rewarding investors |
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