Proactive Investors
07 Oct 2026, 07:39 UTC · 4h ago
Pennon shares plunge 20% as Jefferies flags equity raise and dividend cut
Impact · against what's priced in
Pennon faces significant immediate downward pressure due to a dilutive rights issue and a dividend cut, despite long-term capital expenditure gains. Critical Mineral Resources sees modest positive momentum from progress on its Moroccan copper-silver project.
- PNN−0.70
No priced-in read yet
- In context
The £550 million rights issue at a 35.5% discount and a 30% reduction in the annual dividend to £125 million create immediate shareholder dilution and lower cash returns.
Read from the article alone
