tjh290633 wrote:My recollection is that they warned about rebasing the dividend last year. Should be no surprise.
TJH
Correct Terry. See this;
Since SSE’s Q3 Trading Statement, weather conditions have meant that the shortfall in output from renewable sources has decreased from 19% below plan for the nine months to 31 December 2021, to around 12% below plan as at 22 March. At the same time, the good performance from flexible thermal and hydro plant has continued in volatile market conditions, demonstrating its value to the energy system.
In light of this, SSE is updating the market that it expects full-year 2021/22 adjusted earnings per share to be in a range of between 92 and 97 pence compared to previous guidance of at least 90 pence. SSE still intends to recommend a full-year dividend of 81p per share plus RPI for 2021/22 and continues to target an RPI linked dividend in 2022/23, followed by a rebase to 60p in 2023/24 and at least 5% increases in 2024/25 and 2025/26.
SSE also remains on track to report full-year 2021/22 capex in excess of £2bn as it continues to execute its strategic £12.5bn Net Zero Acceleration Programme, launched in November, at pace. With completion of the disposal of its investment in Scotia Gas Networks (SGN) on 22 March for cash proceeds of £1.3bn, adjusted net debt is expected to be below £9bn at 31 March 2022.
https://www.sse.com/news-and-views/2022 ... ed-period/There was chat over on the SSE News Board about it too here;
viewtopic.php?p=579481#p579481Ian.