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Thames Water has been fined £18.2m for paying “unjustified” dividends to shareholders.
Ofwat has ruled that Thames breached its licence obligations by paying £37.5m of interim dividend payments in October 2023, and a further £158.3m in March 2024.
“Ofwat’s £18 million penalty and clawing back the value of £131 million in unjustified dividend payments is a clear warning to the whole sector: We will take action against companies who take money out of these businesses, where performance does not merit it.”
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