Thames Water-linked firm paid £14m in dividends despite concerns over group

Kennet Properties sells off Thames Water land, whose owner, Kemble Water, has warned it would not be able to pay a £190m loan

A development company that sells off land no longer needed by Thames Water has paid out a £14m dividend despite warnings that it could become engulfed by the embattled water group’s financial woes.

Accounts filed at Companies House show Kennet Properties paid out a £14.5m dividend during the year to 31 March 2023, despite the difficulties faced by the wider group, which is facing a potential administration.