Centrica Boosts Dividend as Profit From Retail Energy Unit Soars [Financial Post (Toronto, Ontario, Canada)]
CENTRICA PLC S/ADR (CPYYY)
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Source: Financial Post
Author of the article: (Bloomberg) — Centrica Plc stepped up payouts to its shareholders after profits at its British Gas retail energy unit jumped. Shares rallied by the most since July. The owner of the nation's biggest supplier to homes increased its full-year dividend by 33% to 4 pence per share, it said in its earnings statement on Thursday. Total returns handed back to its owners amounted to £800 million ($1 billion) last year, the firm said. Article content Article content The boost for shareholders is likely to cause fresh public outcry as energy bills remain high even as inflation is dropping. Centrica said that sliding commodity prices are reducing volatility, which should lead to lower prices for consumers going forward. UK regulator Ofgem's annualized price cap is expected to decrease by nearly 14% by April, according to consultancy Cornwall Insight. Prices are also expected to fall throughout the year in line with the slump in wholesale rates. The Ofgem price
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