SSE to pay dividend as electricity demand holds up

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SSE PLC (LON:SSE) intends to pay its dividend this year as electricity demand is holding up during the current coronavirus crisis.


The energy generator and distributor said earnings for the year to March would be at the lower end of its 83p-88p range, but this is because of a weak network performance before the outbreak.


Coronavirus has yet to have any materially impact on the business and the power group will pay its intended 80p per share full-year dividend, though it adds it will reconsider its decision if circumstances change.


SSE plans to pay out a similar amount adjusted for inflation in the 2020/21 financial year but this will be assessed according to how the virus outbreak affects the business.


Bank facilities total GBP1.5bn of which GBP75mln is currently drawn, with debt and hybrids at end-March of around GBP10.7bn.


Due to the impact of coronavirus on the audit process, results for 2019/20 will be delayed until the second half of June.

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