Thames Water barred from billing customers for pension shortfall
Thames Water barred from billing customers for pension shortfall
www.theguardian.com Thames Water barred from billing customers for pension shortfall
Company faces scramble for funds after Ofwat says deficit is for managers and shareholders alone to deal with
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"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...
That was after the £37m dividend they paid their owners.
Welcome to capitalism. Where the only people to win are the shareholders.
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
11 comments