By Anthony O. Goriainoff
Severn Trent PLC (SVT.LN) said on Tuesday that there have been no material changes to performance or outlook for fiscal 2020 during its third quarter, and that it expects to raise its dividend in fiscal 2021.
The U.K. water company said that in the period from Oct. 1 to Jan. 28 it continued to benefit from the efficiencies delivered via its latest asset-management plan and its capital program is in its final stages.
The company added that it was on track to deliver 25 million pounds ($32.7 million) in outperformance payments for the year, as guided in September.
The company said that based on fiscal 2020's dividend of 100.08 pence a share, the dividend for fiscal 2021 is expected to be 101.58 pence a share.