ANNUAL REPORT AND FINANCIAL STATEMENTS 2009
Chairman's statement
Performance on track
We are well positioned to meet the challenges ahead.
On behalf of the board, I am pleased to report a strong set of results, in this my first year as chairman. These have been delivered in a difficult economic climate.
I was delighted to have been given the opportunity to join the board and I am looking forward to being involved in helping deliver the group’s strategy, which is to focus on its core capabilities of managing utility infrastructure. The progress United Utilities is making in the areas of operational performance and customer service is encouraging, but there is more to do. The group’s ambition is to achieve world class performance. Amongst other matters, this will mean that our safety record will be exemplary, our reputation as a good corporate citizen will be enhanced and we will continue to develop goodwill with our customers and other key stakeholders.
This year is, of course, a very important year for the water industry, with Ofwat making its price review decisions for the 2010-15 period. We are pleased with the quality of our final business plan, which we submitted to the regulator in April 2009 and which we believe balances the needs of all our stakeholders.
The board is proposing a final dividend for the year of 22.03 pence per ordinary share – in line with our policy following the sale of United Utilities Electricity and the £1.5 billion return to shareholders, as we outlined in last year’s report.
Together with the interim dividend of 10.64 pence per ordinary share, the total ordinary dividend relating to the year is 32.67 pence. The final dividend is expected to be paid to shareholders on 3 August 2009.
With a consistent strategy in place, I believe we are well positioned to meet the challenges ahead. I would like to thank our shareholders, employees and customers who have given us strong support and I hope they will continue to share in United Utilities’ success.
Dr John McAdam, Chairman
