Key Developments: Pennon Group PLC (PEGRF.PK)
10.00USD
18 Apr 2013
$0.42 (+4.38%)
$9.58
$10.00
$10.00
$10.00
600
38
$11.83
$9.58
Latest Key Developments (Source: Significant Developments)
Pennon Group Plc Announces Ownership Interest Of RARE Infrastructure Limited
Pennon Group Plc announced that RARE Infrastructure Limited has an interest of 18,325,407 (units), representing 5.0204% of shares of the Company. Full Article
Pennon Group Plc Sees FY 2013 Guidance In Line With Market Consensus
Pennon Group Plc announced that for fiscal 2013, it expects overall trading performance to meet management expectations and is in line with market consensus. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of GBP1.239 billion and net income of GBP156 million for fiscal 2013. Full Article
Pennon Group Plc Announces Business Contract for Subsidiary Viridor Peterborough Limited and Development of Facility as Joint Venture
Pennon Group Plc announced that its Viridor Peterborough Limited (Viridor), has signed a Public Private Partnership contract with Peterborough City Council (PCC) to treat the council's residual waste over the next 30 years. The contract requires the development of an Energy from Waste facility at the council's existing recycling site in the Fengate industrial area. The facility will have a capacity to process up to 85,000 tones of residual waste per annum, is designed to achieve around 94% landfill diversion and will have a net electrical power generation capacity of 7.25 megawatts. Peterborough currently produces approximately 90,000 tones of waste per year, which is set to increase to 140,000 tones by 2040. Viridor submitted a Section 73 planning application in September 2012 to gain a number of minor variations to the planning permission achieved by the Peterborough City Council in May 2010. Viridor secured planning permission for the proposed changes in January 2013. The project requires capital investment of approximately GBP 75 million and the plant will be built by a joint venture between Babcock & Wilcox Volund and Interserve Construction as the engineering and procurement contractor to Viridor. Capital funding for the project will be provided by PCC via its prudential borrowing facilities. The project is expected to be earnings enhancing in its first full year of operation. Full Article
Pennon Group Plc Announces Interim Dividend
Pennon Group Plc announced an interim dividend of 8.76p per share represents an increase of 6.6%, in line with the previously announced policy. The dividend will be paid on April 4, 2013 to shareholders on the register on February 1, 2013. The Company is also offering a scrip dividend alternative. The final date for receipt of forms of election/mandate in respect of the scrip dividend alternative for the interim dividend will be March 11, 2013. Full Article
Pennon Group plc's Subsidiary Acquires Pulp Friction Limited
Pennon Group plc announced that subsidiary, Viridor Waste Management Limited, has acquired Pulp Friction Limited, a paper collection and processing business based in Erith, Kent, and the business, assets and goodwill of a related business, SBS Paper LLP, for a total consideration of GBP9.0 million (GBP8.6 million cash plus acquired net debt). The acquired business processes around 100,000 tonnes of paper and card per annum. Full Article
Pennon Group plc's Subsidiary Viridor (Glasgow) Limite Signs The 25 year Glasgow City Residual Waste Treatment Services Design, Build, Finance And Operate Contract With Glasgow City Council
Pennon Group plc announced that its subsidiary, Viridor (Glasgow) Limited, has signed the 25 year Glasgow City Residual Waste Treatment Services Design, Build, Finance and Operate ('DBFO') contract with Glasgow City Council. The contract requires the recycling and treatment of Glasgow's residual municipal waste through the financing, construction and operation of a new Recycling and Renewable Energy Centre at the Council's own site in the south of the city. The contract requires the treatment of between 175,000 and 200,000 tonnes p.a. of waste and is designed to achieve around 90% landfill diversion. The contract is subject to Viridor's gaining planning permission to build the plant. Viridor expects to make a planning application towards the end of this summer and hopes to secure planning consent early in 2013. The project requires capital investment of approximately GBP160 million by Viridor and the plant will be built by Interserve as the EPC Contractor. Viridor's investment is to be funded from internal funds as required. It is expected to be earnings enhancing in its first full year of operation. Full Article
Pennon Group plc Expands Waste Management Business In North West By Acquiring JWT Holdings Limited
Pennon Group plc announced that its subsidiary, Viridor Waste Management Limited, has acquired JWT Holdings Limited, a waste collection and recycling business based in Atherton, Greater Manchester, from John William Thomasson. The total consideration was GBP7.60 million (GBP6.58 million cash plus acquired net debt). Full Article
Pennon Group plc Announces Final Dividend
Pennon Group plc announced that the Board has recommended a final dividend of GBP0.183, up 6.7%, subject to shareholder approval at the Annual General Meeting. Together with the interim dividend of GBP0.0822, this will result in a total dividend for the year of GBP0.2652, an increase of 7.6% on the total dividend for 2010/11. This is in line with the previously announced policy to grow the Group dividend by 4% above inflation per annum up to the end of 2014/15. RPI for the twelve months to March 2012 was 3.6%. The dividend will be paid on October 5, 2012, to shareholders on the register on August 10, 2012. The Company is also offering a scrip dividend alternative. The final date for the receipt of Forms of Election/Mandate in respect of the scrip dividend alternative for the final dividend will be September 17, 2012. Full Article
Pennon Group plc's Subsidiary Acquires Community Waste Holding Limited And Community Waste Recycling Limited
Pennon Group plc announced that its subsidiary, Viridor Waste Management Limited, has acquired Community Waste Holding Limited and Community Waste Recycling Limited, a specialist materials recycling and paper trading business based in Milton Keynes, from Community Waste Holdings Foundation, Ms C Cutts and Ms G Cutts. The total consideration on a debt-free basis was GBP15.75 million (comprising cash of GBP8.775 million and Pennon Group Plc loan notes totalling GBP6.975 million). The acquired business operates in the south east of England. It has a number of medium and long-term municipal contracts and a total current annual volume of 90,000 tonnes. Full Article
Pennon Group plc Announces Interim Dividend
Pennon Group plc announced that the interim dividend of GBP0.0822 per share represents an increase of 9.6% for the half year, in line with the previously announced policy to grow the Group dividend by 4% above inflation per annum up to the end of 2014/15. The dividend will be paid on April 3, 2012, to shareholders on the register on February 3, 2012. The Company is also offering a scrip dividend alternative. The final date for receipt of forms of election/mandate in respect of the scrip dividend alternative for the interim dividend will be March 12, 2012. Full Article
New Issue- Pennon Group prices 300 mln stg Perp bond
Underlying govt bond Over Mid-swaps, equivalent to 592.6bp
Earnings vs. 
Estimates
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