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SSE on ‘strong strategic footing’

The energy company will recommend dividend between 80p per share

SSE, the multinational energy company, intends to recommend a full-year dividend of 80p per share plus RPI for the coming year. 

According to the company’s trade statement, this is based on two assumptions.

“Normal weather conditions prevailing”, causing renewables to be just over 5% below plan, and the coronavirus pandemic having an impact on SSE’s profits between £150m and £250m.

SSE earned in excess of £2bn from its disposable programme in December. The company also raised £995m by selling its Multifuel assets, as well gas exploration and production assets.

These sales, along with its commitment to treble renewables output by 2030, “underlined SSE’s ESG credentials and focus”, according to its trade statement.  

Greg Alexander, finance director of SSE, praised the company’s ability to cope with the coronavirus pandemic.

“With solid operational performance and strong strategic execution, SSE is well positioned as we move towards the end of our financial year. Our robust business model is mitigating the impact of coronavirus, our disposal programme is proceeding at pace and at Dogger Bank we have shown yet again that we can develop opportunities and create value from world-class assets,” Alexander said.

Alexander also cheered the energy policy of the UK government for laying the foundations for a positive year for SSE

“With a number of uncertainties lifting and an increasingly supportive policy environment which further underpins our clear strategic focus on the transition to net zero, SSE is on a strong strategic footing for the rest of 2020/21 and beyond.”

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