Posted By Global Banking and Finance Review
Posted on December 19, 2024

(Reuters) - British regulator Ofwat said on Thursday it plans to fine Thames Water 18 million pounds ($22.67 million) for breaking dividend payment rules, the first time the watchdog is taking action against water firms that do not link payouts to performance.
The water regulator said Thames Water made interim dividend payouts totalling 37.5 million pounds to its holding company, Thames Water Utilities Holdings Limited, in October last year and further payouts of about 158.3 million pounds in March 2024.
($1 = 0.7939 pounds)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Abinaya Vijayaraghavan)