Pennon to Raise £550 Million and Rebase Dividend for Water Upgrades
UKPulse Money Desk
Pennon is set to raise £550 million through a rights issue. This move is intended to fund water infrastructure upgrades.
- Pennon plans to raise £550 million.
- The funds will be raised via a rights issue.
- The company will rebase its dividend to support water upgrades.
Pennon, the utility company, is preparing to raise £550 million through a rights issue. This financial manoeuvre is intended to support significant upgrades to its water infrastructure.
Alongside the capital raise, Pennon will rebase its dividend. This adjustment is also linked to the funding of the planned water improvements.