Scottish and Southern Energy says on track to achieve dividend target for 2010/11

(ADPnews) - Sep 29, 2010 - UK-based Scottish and Southern Energy (SSE) said today it remains on course to achieve its principal financial objective for an increase of the fiscal 2010/11 dividend payable to shareholders of at least 2% above the retail price index (RPI).

The company will enter its close period on October 1, 2010, prior to the publication on November 10 of its financial report for the six months to September 30.

SSE has invested a cumulative total of around GBP 1.3 billion (USD 2.1bn/EUR 1.5bn) in assets which are still largely under construction and therefore have yet to make any substantive contribution to earnings, the company said. This includes 1,000 MW of on- and offshore wind farm capacity currently under construction.

The company has commissioned 90 MW of new onshore wind farm capacity since the start of the current financial year.

(GBP 1.0 = USD 1.582/EUR 1.164)

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