Northumbrian Water has paid its first dividend to its overseas owner in three years after revenues edged up, new accounts show.
The company - which supplies water to homes and businesses around the North East, but also to Essex and Suffolk - has released accounts for the year ending March 2022 which show that revenue increased by nearly 3% to £780.1m. Over the same period, operating profit fell slightly to £188.3m, but the company paid an interim dividend of £58.2m and a final dividend of £55.4m, having not made payments for the last two years.
The accounts highlight the company’s four-star rating from the Environment Agency as well as its efforts to reduce carbon emissions. It also said it had been working in increase local investment, with 60p from each pound it spend being in the region, and said it was working to support people struggling to pay their water bills. On a range of internal targets around customer service, the environment, competitiveness, people and communities, the company hit 11 targets and missed seven, but pointed out that it had improved performance or held steady in 75% of the measures it sets itself.
