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During these 11 years £2.8 billion was paid to shareholders; 40% of the total £7 billion in dividends paid by Thames Water in the 32 years from 1990 to 2022. [10] Thames Water was a Tier Three sponsor of the 2012 Summer Olympics in London. [11]
In its latest results, it reported a profit before tax of £249.6m - 20% up on the year before. When Thames Water was privatised in 1989 it had no debt. However, over the years it borrowed heavily.
The UK's largest water company saw annual profits increase but its debts also climbed to over £15bn. Thames Water says it has enough cash until May next year Skip to main content
Many of London's water pipes are more than 60 years old, with the oldest being over 150 years old. Thames Water in particular has been criticised for distributing substantial profits to shareholders while almost a quarter of the water they supply is lost through leaks. [37] [38]
A new report has said Thames Water is in worse financial straits than already thought. ... bringing them to an average of £667 a year by 2030.
In 1904, the water supply business of the New River Company was taken into public ownership under the provisions of the Metropolis Water Act 1902, and transferred to the Metropolitan Water Board. A total of £6,000,534 was paid to the shareholders and directors in compensation, which was paid in "water stock", paying a 3% annual dividend.
The water company is already under investigation for a smaller £37.5 million dividend payment in October 2023, under new Ofwat rules. Thames Water confirms £158m dividend in March amid scramble ...
In 1989 the Thames Water Authority was partly privatised, under the provisions of the Water Act 1989 [3] with the water and sewage responsibilities transferring to the newly established publicly quoted company of Thames Water, and the regulatory, land drainage and navigation responsibilities transferring to the newly created National Rivers Authority which later became the Environment Agency.