The Guardian revealed last week that the board of the struggling water supplier agreed to the payout at a meeting on 27 March.
Gary Carter, GMB national officer, said: “Thames Water has once again shown an alarming lack of transparency.
“It is concrete evidence of why we need to abolish Ofwat and create a new water regulator with real teeth and power.
The campaigner and former Undertones singer Feargal Sharkey said: “The dividend illustrates yet again the utter contempt and disdain that the water industry treats regulators and the politicians that oversee it with.
The £150m did not reach external Thames shareholders but did leave the ringfenced portion of the group’s complex corporate structure.
Ofwat is due to publish its draft response to water firms’ five-year business plans on 11 July.
The original article contains 580 words, the summary contains 131 words. Saved 77%. I’m a bot and I’m open source!
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The Guardian revealed last week that the board of the struggling water supplier agreed to the payout at a meeting on 27 March.
Gary Carter, GMB national officer, said: “Thames Water has once again shown an alarming lack of transparency.
“It is concrete evidence of why we need to abolish Ofwat and create a new water regulator with real teeth and power.
The campaigner and former Undertones singer Feargal Sharkey said: “The dividend illustrates yet again the utter contempt and disdain that the water industry treats regulators and the politicians that oversee it with.
The £150m did not reach external Thames shareholders but did leave the ringfenced portion of the group’s complex corporate structure.
Ofwat is due to publish its draft response to water firms’ five-year business plans on 11 July.
The original article contains 580 words, the summary contains 131 words. Saved 77%. I’m a bot and I’m open source!