Pennon Group up on pricing news

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Pennon Group up on pricing news
Master Investor Magazine

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FTSE 250 water and waste management specialist Pennon Group (LON:PNN) saw its share price rise rise by 1.88% to 1,163p (as of 15:15 GMT) after South West Water accepted Ofwat’s price determination for 2020-25. The company will take this into account as it carries out a strategic review of the business, but many of the regulator’s determinations were in line with last year’s draft version.

The current dividend policy expires this year and management will announce a new policy before the next set of full-year results are published.

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