Thames Water has been fined £18 million and been told that a further £131 million will have to be clawed back from its shareholders for deliberately breaking rules to prevent the payment of dividends. In an unprecedented ruling against the company, David Black, the chief executive of the water regulator Ofwat, said:... read full story
"Ofwat's £18 million penalty and clawing back the value of £131 million in unjustified dividend payments is a clear warning to the whole sector: we will take action against companies who take money out of these businesses, where performance does not merit it."