Huge profits for Severn Trent – as bills set to soar and sewage spills continue
Severn Trent has hiked its dividend to shareholders after profits rose by a fifth last year – despite sewage spills by the company rising by a third in 2023.
The company has also revealed it wants to hike bills by more than 35 per cent over the next five years.
The FTSE-listed firm, which provides water to much of the West Midlands and Wales, lifted its final dividend nine per cent to 70.1p per share, while profit rose to £201.3 million.
Severn Trent was responsible for more than 60,000 sewage spills last year, with those spill events lasting for more than 440,000 hours – equivalent to about 50 years.
It has been criticised by campaigners who are calling for the River Severn to be cleaned up, with two stretches of the river in Shropshire recently designated as bathing zones which means water quality will be under extra scrutiny.
