Focus on renewables

SSE ‘committed’ to dividends, confirms wind farm

Viking will be UK’s largest onshore windfarm

Richard Gillingwater, chairman of renewables-focused SSE, said the company is committed to paying dividends despite announcing a lower payout for the last financial year.

Mr Gillingwater said dividend provide “vital income for people’s pensions and savings… income which is now more important than ever”.

The Perth-based company is cutting its proposed final dividend to 56p per share, compared to last year’s 68.2p, making a full year dividend of 80p per share (2019: 97.5p).

After selling its retail business to Ovo in January the company is now focused on renewables generation and will invest over £7 billion in major low-carbon construction projects to support net zero and spur a green economic recovery.

It has confirmed that it will go ahead with the £580m Viking Onshore Wind Farm on Shetland and the £3bn Seagreen Offshore Wind Farm, with Total, which will be the largest in Scotland when built. Together they will create about 800 jobs and support thousands more in the supply chain.

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