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British Gas owner Centrica has raised its dividend by a third despite a dip in annual profits to £2.8bn.
The FTSE 100 UK energy company will pay a full-year dividend of 4p per share, up from 3p for 2022, it said on Wednesday.
Centrica, which produces and trades energy as well as selling directly to households, announced adjusted operating profit of £2.8bn, down from £3.3bn in 2022.
On a statutory basis, profits swung to £6.5bn compared with a £240mn loss the year before, driven by changes in the value of its hedging contracts.
British Gas, the retail business, reported a statutory operating profit of £799mn, up from £94mn in 2022, after the regulator allowed energy companies to recoup costs incurred during the energy crisis.
