Pennon Group plc ( (GB:PNN) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Pennon Group plc’s stock is on the rise following the announcement of a rights issue aimed at raising £490 million. This move is part of a broader £3.2 billion investment plan set through 2030, intended to enhance customer outcomes and environmental sustainability. The strategic financial initiative is expected to increase the company’s regulatory capital value by at least 34%, promising a 7% return on regulated equity. With a commitment to shareholder value, Pennon also introduced a new dividend policy aligned with CPIH inflation, ensuring long-term financial resilience.
More about Pennon Group plc
YTD Price Performance: -13.14%
Average Trading Volume: 1,098,272
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £1.47B
For further insights into PNN stock on TipRanks’ Stock Analysis page.
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