United Utilities’ decision to hand out its biggest shareholder dividend in a decade has angered readers.
The water company is preparing for the bumper payout to shareholders on August 3 - just two days before a hosepipe ban is introduced for customers in Lancashire.
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The payout - predicted to be more than £100m - is the highest rate since June 2008 at 26.49p per share.
The revelation comes days after it was revealed that United Utilities wastes 430m litres of water a day from its ageing infrastructure.
A United Utilities spokesman said: “Reducing leaks is a top priority.
“We have cut leakage by half since the 1990s and are working hard to do even more.”
Spend money on repairing the mains that are leaking constantly. Just ridiculous how much water they’re wasting and yet we still get charged and hit with a hosepipe ban. All the while the shareholders are raking it in. No other part of the country is getting a ban and we live in the wettest part of the UK!
So I can’t use my hosepipe because your network is leaking water but you’re paying dividends to shareholders because you’ve so much profit? Something isn’t right here...
Serving their customers?
I’m confused. Payout for what exactly?
That’s what happens when public amenities are privatised. All thanks to Margaret Thatcher.
I’ll use as much water as I’m paying for thank you very much!
If all customers were metered, there would be no need for hosepipe bans. In every other utility you pay for what you use. Why not water?
It’s a wise investment as people will always need water. I’ve had shares since 2009 as part of my long term portfolio.
I keep seeing statements from United Utilities, there will be a telephone number to ring to report anyone who doesn’t comply with the hosepipe ban. Hope everyone reports with pictures or videos on social media every water leak awaiting repair.
Are people aware that there are no water charges in Scotland.
Under section 36 of the flood and water management act 2010, a water provider who places a temporary ban is obliged to make arrangements for a “reasonable” reduction of charges which are made in respect of the activities which are covered by the temporary ban. What arrangements will be put in place for the paying public?
Profits are up as my bill has risen over £11 a month! I’m in a two bed ground floor flat and pay £38.12! That’s more than my neighbour with three bed house.