July 9, 2019 / 6:27 AM / 2 months ago

Ofwat asks water utilities to restrict shareholder pay-outs

July 9 (Reuters) - British water regulator on Tuesday rolled out a series of steps to bolster the financial strength of water utilities including restrictions on pay-outs to shareholders in some instances as it seeks to ensure that the companies continue to draw investment.

The Water Services Regulation Authority (Ofwat) said that if a water utility is at risk of losing its investment grade rating, it would be barred from making pay-outs to shareholders or removing money or assets from the business.

Reporting by Muvija M in Bengaluru; Editing by Arun Koyyur

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