Jul 22, 2022
Top Centrica investors say energy group must reinstate dividend
Leading shareholders in Centrica are calling on the British energy group to reinstate its dividend when it announces results next week, even though households are facing another steep jump in their energy bills. The company behind British Gas, the UK's biggest energy supplier, suspended its dividend at the height of the first Covid wave in 2020. Analysts are expecting O'Shea to reinstate the dividend at a "Modest" level when the company reports first-half results on July 28. He is next week expected to highlight that Centrica has around 500,000 retail investors - a legacy of when British Gas was privatised in 1986 - who would benefit from a restored dividend. Simon Francis, co-ordinator of the End Fuel Poverty Coalition, said that while the energy market was "a complex beast", it didn't "Sit right" that energy firms and their investors "Are profiting while millions of families are facing a very real choice between using energy or putting food on the table".
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