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SSE says 2017/18 dividend cover to be at lower end of guidance
March 30, 2017 / 6:36 AM / 8 months ago

SSE says 2017/18 dividend cover to be at lower end of guidance

LONDON (Reuters) - British energy supplier SSE (SSE.L) expects dividend cover for its 2017/18 financial year to be at the lower range of its target due to the low capacity market clearing price and lower earnings in some of its networks businesses, it said on Thursday.

“SSE expects that its dividend cover for 2017/18 will be within, but towards the bottom of, the expected range of around 1.2 times to around 1.4 times,” SSE said in a statement.

It also said capital expenditure for its current financial year, which ends on Friday, will be around 1.7 billion pounds ($2.11 billion) and that all of its three business segments, wholesale, networks and retail, have been profitable.

($1 = 0.8044 pounds)

Reporting by Karolin Schaps

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