United Utilities Group

Website: United Utilities Group
Index: FTSE 100
EPIC: UU.
Supersector: Utilities
Sector: Gas, Water and Multiutilities
Subsector: Water
Market Cap: £8.52B
Payout Frequency: Semi-Annual

United Utilities Group Dividend Analysis and Summary

Key Dividend Details
  • Interim dividend declared: 17.88p per share (H1 FY26), up +3.5% YoY (from 17.28p), in line with policy to grow with CPIH.
  • Ex-dividend date: 18/12/2025
  • Record date: 19/12/2025
  • Payment date: RNS contains two references — 12/01/2026 (Note 9) and 02/02/2026 (narrative section). Investors should confirm the correct date with the registrar.
  • Dividend policy: target growth in line with CPIH each year (policy maintained).
  • DRIP available via Equiniti; ISIN: GB00B39J2M42; TIDM: UU.
  • Coverage (H1): underlying EPS 52.8p vs interim DPS 17.88p ? c.3.0x interim cover (underlying basis).
Financial Support and Coverage
  • H1 underlying performance: revenue +21% to £1,309m; underlying operating profit +67% to £562m; underlying EPS 52.8p.
  • Cash flow: net cash from operations £687m in H1; dividends paid in period £236m.
  • Balance sheet: net debt £9.61bn; RCV £15.98bn; RCV gearing 60% (mid of 55–65% target). Liquidity to H2 FY28; solid credit ratings (Moody’s Baa1, Fitch A-, S&P BBB+ at UUW).
  • Cost of debt: average effective rate 5.3% (H1), reflecting higher inflation and funding for AMP8; capitalised interest £45.7m helps P&L optics.
  • Inflation-linkage: c.36% RPI-linked and 14% CPI/CPIH-linked debt; company plans to reduce index-linked share to ~one-third over AMP8, moderating inflation-driven interest volatility over time.
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United Utilities Group Annual Dividend Yield - 4.16%

Dividends Used in Calculation:

Ex-Dividend Date Payment Date Type Amount Currency
28/11/2024 13/01/2025 Interim 17.28p GBX
19/06/2025 01/08/2025 Final 34.57p GBX

Total (Annual Dividends Per Share): 51.85p

Dividend Yield = Annual Dividends Per Share (51.85p) ÷ Share Price (1247p) = 4.16%

United Utilities Group Dividend History

Ex Dividend Date Payment Date Type Amount Currency
18/12/2025 02/02/2026 Interim 17.8800p GBX
19/06/2025 01/08/2025 Final 34.57p GBX
28/11/2024 13/01/2025 Interim 17.28p GBX
20/06/2024 01/08/2024 Final 33.19p GBX
21/12/2023 01/02/2024 Interim 16.59p GBX
22/06/2023 01/08/2023 Final 30.34p GBX
22/12/2022 01/02/2023 Interim 15.17p GBX
23/06/2022 01/08/2022 Final 29.00p GBX
16/12/2021 01/02/2022 Interim 14.50p GBX
24/06/2021 02/08/2021 Final 28.83p GBX
17/12/2020 01/02/2021 Interim 14.41p GBX
25/06/2020 03/08/2020 Final 28.40p GBX
19/12/2019 03/02/2020 Interim 14.20p GBX
20/06/2019 01/08/2019 Final 27.52p GBX
20/12/2018 01/02/2019 Interim 13.76p GBX
21/06/2018 03/08/2018 Final 26.49p GBX
21/12/2017 01/02/2018 Interim 13.24p GBX
22/06/2017 04/08/2017 Final 25.92p GBX
15/12/2016 01/02/2017 Interim 12.95p GBX
23/06/2016 01/08/2016 Final 25.64p GBX
17/12/2015 01/02/2016 Interim 12.81p GBX
25/06/2015 03/08/2015 Final 25.14p GBX
18/12/2014 02/02/2015 Interim 12.56p GBX
18/06/2014 01/08/2014 Final 24.03p GBX
18/12/2013 03/02/2014 Interim 12.01p GBX
19/06/2013 02/08/2013 Final 22.88p GBX
19/12/2012 01/02/2013 Interim 11.44p GBX
20/06/2012 03/08/2012 Final 21.34p GBX
14/12/2011 01/02/2012 Interim 10.67p GBX
22/06/2011 01/08/2011 Final 20.0p GBX
15/12/2010 02/02/2011 Interim 10.0p GBX
16/06/2010 02/08/2010 Final 23.13p GBX
16/12/2009 03/02/2010 Interim 11.17p GBX
17/06/2009 03/08/2009 Final 22.03p GBX
17/12/2008 04/02/2009 Interim 10.64p GBX
25/06/2008 08/08/2008 Final 31.47p GBX
19/12/2007 11/02/2008 Interim 15.2p GBX
27/06/2007 24/08/2007 Final 30.3p GBX
20/12/2006 12/02/2007 Interim 14.63p GBX
28/06/2006 25/08/2006 Final 29.58p GBX
21/12/2005 09/02/2006 Interim 14.29p GBX
08/06/2005 26/08/2005 Final 30.63p GBX
22/12/2004 09/02/2005 Interim 14.79p GBX
30/06/2004 27/08/2004 Final 29.88p GBX
17/12/2003 09/02/2004 Interim 14.43p GBX
25/06/2003 29/08/2003 Final 32.1p GBX
18/12/2002 10/02/2003 Interim 15.5p GBX
05/06/2002 01/10/2002 Final 31.7p GBX
05/12/2001 11/02/2002 Interim 15.3p GBX
06/06/2001 01/10/2001 Final 31.1p GBX
13/12/2000 12/02/2001 Interim 15.0p GBX
05/06/2000 01/10/2000 Final 30.5p GBX
20/12/1999 14/02/2000 Interim 14.7p GBX
07/06/1999 01/10/1999 Final 29.9p GBX
30/11/1998 06/04/1999 Interim 14.4p GBX
08/06/1998 01/10/1998 Final 29.0p GBX
08/12/1997 16/02/1998 Interim 13.16p GBX
13/06/1997 01/10/1997 Final 25.2p GBX
17/12/1996 13/02/1997 Interim 12.0p GBX
08/06/1996 01/10/1996 Final 19.59p GBX
28/12/1995 16/02/1996 Interim 9.27p GBX
16/06/1995 03/10/1995 Final 21.0p GBX
03/01/1995 24/02/1995 Interim 8.35p GBX
16/06/1994 03/10/1994 Final 15.4p GBX
04/01/1994 06/04/1994 Interim 7.67p GBX
17/06/1993 06/08/1993 Final 14.27p GBX
04/01/1993 26/02/1993 Interim 7.13p GBX
11/06/1992 01/10/1992 Final 13.13p GBX
03/01/1992 17/02/1992 Interim 6.54p GBX
22/07/1991 01/10/1991 Final 12.0p GBX
28/01/1991 04/03/1991 Interim 6.0p GBX
23/07/1990 10/10/1990 Final 10.47p GBX
Year Interim Final Currency Total Change
2024 17.280 33.190 GBX 50.470 7.540
2023 16.590 30.340 GBX 46.930 6.240
2022 15.170 29.000 GBX 44.170 1.930
2021 14.500 28.830 GBX 43.330 1.210
2020 14.410 28.400 GBX 42.810 2.610
2019 14.200 27.520 GBX 41.720 3.650
2018 13.760 26.490 GBX 40.250 2.780
2017 13.240 25.920 GBX 39.160 1.470
2016 12.950 25.640 GBX 38.590 1.680
2015 12.810 25.140 GBX 37.950 3.710
2014 12.560 24.030 GBX 36.590 4.870
2013 12.010 22.880 GBX 34.890 6.430
2012 11.440 21.340 GBX 32.780 6.870
2011 10.670 20.000 GBX 30.670 -7.420
2010 10.000 23.130 GBX 33.130 -0.210
2009 11.170 22.030 GBX 33.200 -21.150
2008 10.640 31.470 GBX 42.110 -7.450
2007 15.200 30.300 GBX 45.500 2.910
2006 14.630 29.580 GBX 44.210 -1.580
2005 14.290 30.630 GBX 44.920 0.550
2004 14.790 29.880 GBX 44.670 -3.990
2003 14.430 32.100 GBX 46.530 -1.410
2002 15.500 31.700 GBX 47.200 1.720
2001 15.300 31.100 GBX 46.400 1.970
2000 15.000 30.500 GBX 45.500 2.010
1999 14.700 29.900 GBX 44.600 2.760
1998 14.400 29.000 GBX 43.400 13.130
1997 13.160 25.200 GBX 38.360 21.430
1996 12.000 19.590 GBX 31.590 -18.200
1995 17.620 21.000 GBX 38.620 67.400
1994 7.670 15.400 GBX 23.070 7.800
1993 7.130 14.270 GBX 21.400 8.790
1992 6.540 13.130 GBX 19.670 9.270
1991 6.000 12.000 GBX 18.000 71.910
1990 10.470 GBX 10.470

United Utilities Group Dividend Calculator

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United Utilities Group Dividend Growth

Dividend Growth (1Y) 3.92%
Dividend CAGR (5Y) 3.94%
Years of Growth 14
Payout Ratio 88.02%
Buyback Yield -0.02%
Shareholder Yield 4.18%
P/E Ratio (TTM)21.25
Forward P/E11.63
P/FCF–
Earnings Yield4.72%
FCF Yield-0.69%
ROE20.44%
ROCE5.24%
Profit Margin16.93%
Operating Margin36.31%
Gross Margin95.1%