Jersey Electricity Declares Higher Dividend Amid Stable Profits

Jersey Electricity (GB:JEL) has released an update.

Jersey Electricity PLC reported a resilient operational and financial performance for the first half of the 2023/24 fiscal year, despite a major storm and challenging economic conditions. The company declared an increased interim dividend of 8.40p per share, up from 8.00p the previous year, reflecting confidence in its financial stability. Revenue rose by 9% to £75.6m, with profits before tax holding steady at £10.3m, and customer tariffs in Jersey remaining competitive, at around 40% less than those in the UK.

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