SHAREHOLDERS of privatised giant United Utilities are creaming off more than £90 from every water customer in East Lancashire, it was claimed today.
Figures have revealed that North West Water users contributed an average of £93 each to the company's dividends.
A study has showed that the company topped the dividend league table with the £93 representing 42 per cent of the average £222 bill.
Campaign group WaterWatch said the huge dividend paid to the United Utilities parent group was higher than the pre-tax profit made by North West Water for the whole year.
Pete Bowler, national campaigns officer for WaterWatch, said: "Water companies are quick to trot out figures like telephone numbers when they talk about investment.
"What they are not so keen to talk about is how much of customers' bills is taken out of the company in dividends.
"This money will never be available for much-needed investments despite the huge backlog that exists.
"Customers are paying too much for the privilege of being captive customers of the big private water companies."
A North West Water spokeswoman said: "As a result of on-going performance and in line with North West Water's benefit-sharing between customers and shareholders a special dividend of £200 million was paid to United Utilities.
"This money will be held in reserve and will underpin the company's dividend policy."
She said the money would not be spent on investments. She could not comment on whether the cash would be paid out to shareholders in future.
Converted for the new archive on 14 July 2000. Some images and formatting may have been lost in the conversion.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article