Thames Water board approved £150m payout hours before funding U-turn
Exclusive: Ofwat to investigate circumstances around payment of dividend to intermediate parent companyThe board of Thames Water agreed to pay a £150m dividend hours before its shareholders U-turned on plans to pump emergency funding into the struggling water supplier, the Guardian can reveal.The water industry regulator was examining the decision by the debt-laden company’s board to sign off the payout at a meeting on 27 March, sources said. Continue reading...
Exclusive: Ofwat to investigate circumstances around payment of dividend to intermediate parent company
The board of Thames Water agreed to pay a £150m dividend hours before its shareholders U-turned on plans to pump emergency funding into the struggling water supplier, the Guardian can reveal.
The water industry regulator was examining the decision by the debt-laden company’s board to sign off the payout at a meeting on 27 March, sources said. Continue reading...
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