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UK's Pennon launches £550 million rights issue, cuts dividend to fund investment

Source: reuters.com

Company FundamentalsCapital Returns (Dividends / Buybacks)
UK's Pennon launches £550 million rights issue, cuts dividend to fund investment

Pennon Group launched a fully underwritten £550 million ($728.5 million) rights issue and cut its dividend to address operational problems at its regulated water business. The financing and dividend reduction are negative for shareholders, though the article gives no further figures on the operational issues or expected financial impact.

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mildly negative

Sentiment Score

-0.35

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