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(Bloomberg) — Centrica Plc will increase its dividends for the year, boosting returns to shareholders as it monitors the impact the trade war will have on the business.
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The owner of British Gas plans to raise its full-year 2025 dividend to 5.5 pence a share, Centrica said in a trading update ahead of its annual general meeting on Thursday. The potential for an increase was first flagged in February. The utility also reaffirmed full-year adjusted operating profit guidance ranges.
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The higher payout comes as global energy demand has been impacted by President Donald Trump’s tariff war. While the UK company doesn’t expect any material impact on its operations, it said uncertainties remain for the balance of the year, including weather, commodity prices, regulation and government policy.
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“We are closely monitoring the impact of potential global trade restrictions and will continue to do so,” the company said in a statement on Thursday. “Given our diversified supply chains across key projects and operations, we do not currently anticipate any material impact on our business or financial results.”
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The company previously said it sees infrastructure adjusted operating profit in the range of £250 million to £400 million this year, according to the trading update.
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Centrica’s energy storage loss — originally projected at £50 million to £100 million — is now expected at the higher end of that range. The company is seeking to transform its Rough gas-storage site in the North Sea into a hydrogen storage facility, through an estimated £2 billion overhaul.
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While hydrogen is expected to play a role in helping the UK reach its net zero goals, the technology has come under scrutiny due to the high cost of building infrastructure.
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The company said on Thursday that “constructive discussions are ongoing with the UK government to secure a regulatory support mechanism that unlocks £2 billion of investment to increase Rough’s capacity and ultimately convert it into a hydrogen-ready storage facility.”
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