UK Infrastructure

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Thames Water barred from billing customers for pension shortfall (www.theguardian.com)

submitted 2 years ago by Mex@feddit.uk to c/uk_infrastructure@feddit.uk

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[–] Buelldozer@lemmy.today 20 points 2 years ago (3 children)

"In June, the Guardian revealed that Thames’ board approved a £150m dividend ..."

So they approved a 150m dividend while knowing they had a 156m shortfall in their pension system. What the...

[–] frazorth@feddit.uk 4 points 2 years ago

That was after the £37m dividend they paid their owners.

[–] slazer2au@lemmy.world 4 points 2 years ago

Welcome to capitalism. Where the only people to win are the shareholders.

[–] Streamwave@feddit.uk 3 points 2 years ago

IIRC, since privatisation the total amount of water company debt is roughly equivalent to the total amount paid out in shareholder dividends in the same timeframe