Dividend appears ready for the chop, which implies the same for Iain Conn at British Gas owner
Here’s a share price that hasn’t been glimpsed this century: Centrica, owner of British Gas, stands below 100p. Thursday’s ex-dividend date finally pushed the stock below the round number, a level last seen in 1999 when privatised utilities were still reeling from a windfall tax imposed by fresh-faced chancellor Gordon Brown.
There are no windfall taxes in prospect today, and shadow chancellor John McDonnell’s nationalisation ambitions in the energy sector are primarily aimed elsewhere. Yet Centrica, once viewed as the UK’s domestic energy titan, now has a stock market value of a mere £6bn, the same as JD Sports, our national champion in trainers and tracksuits.Continue reading...
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