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Power utility SSE upgraded its annual earnings guidance after a strong performance from its thermal and hydro plants offset disappointing renewables output.
Adjusted earnings per share for the year through March were now expected to be at least 90p per share, up from previous guidance of at least 83p, the company said in a third-quarter trading update.
SSE said it intended to recommend a full-year dividend of 81p per share plus the retail price index (RPI).
It was continuing to target an RPI-linked dividend in the 2023 financial year, followed by a rebase to 60p in the 2024 financial year and at least 5% increases in the 2025 and 2026 financial years.
'SSE's performance in the year so far gives us renewed confidence about delivery of good financial results for the full year,' finance director Gregor Alexander said.
'When coupled with the progress made on our capex plans in recent months, it also highlights the value we are creating for all stakeholders from continued execution of our net zero-aligned strategy.'