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Stock impact report

Southern Water plans to pay out £275m in dividends despite rising debt pressures [Yahoo! Finance]

Moody's Corporation (MCO) 
Last moody's corporation earnings: 4/30 07:00 am Check Earnings Report
US:NYSE Investor Relations: ir.moodys.com/home/default.aspx
Company Research Source: Yahoo! Finance
The company, which serves 4.7m customers in Kent, Sussex and Hampshire, is planning to reward shareholders while increasing its net debt pile from £6bn to £8bn by 2030. One of the main beneficiaries of the dividend payouts will be the company's majority owner, Macquarie. The Australian investment giant has previously been criticised over its ownership of Thames Water between 2006 and 2017 , a period during which it doubled the company's borrowings to £11bn and took out an estimated £2.7bn of dividends. Thames Water is now at risk of collapse under the weight of its vast debt pile. In its latest business plan submitted to Ofwat, Southern unveiled plans to pay dividends of £275m between 2025 to 2030. It has now also informed investors of its intention to tap bond markets for £3.8bn of new debt in an attempt to shore up its finances. As well as raising new debt, Southern said it would also seek a further £650m from shareholders led by Macquarie. While raising new debt will Show less Read more
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