Severn Trent chairman increases stake after dividend cut

30th Jan 2015 16:12

Non-executive chairman in Severn Trent bought same shares showing confidence in the water company after it announced this week it would cut its dividend to shareholders in order to reduce household bills.Andrew Duff spent £99,109 buying 4,684 shares for an individual price of 2,115.9p. After the transaction, the chairman holds a total of 8,184 shares in the group.Severn Trent announced on Wednesday that it would cut its dividend for the next financial year to March 2016 by 5% to 80.66p.Chief executive Liv Garfield said at the time of the decision: "At Severn Trent we always seek to strike the right balance between the service customers receive, the bills they pay, and returns to investors and we believe our plan for the next five years achieves that balance, delivering better services, better value and a healthier environment."The price review has been a challenging process but has led to a great outcome for customers."Top Director BuysSevern Trent (SVT) Director name: Mr Andrew DuffAmount purchased: 4,684 @ 2,115.90p Value: £99,109Proactis Holdings (PHD) Director name: Mr Alan John AubreyAmount purchased: 25,000 @ 87.00p Value: £21,750Proactis Holdings (PHD) Director name: Mr Rodney PottsAmount purchased: 25,000 @ 87.00p Value: £21,750Proactis Holdings (PHD) Director name: Mr Rodney D JonesAmount purchased: 25,000 @ 87.00p Value: £21,750Proactis Holdings (PHD) Director name: Mr Timothy J SykesAmount purchased: 25,000 @ 87.00p Value: £21,750Bushveld Minerals Limited (BMN) Director name: Mr Ian Clyde WatsonAmount purchased: 540,000 @ 2.45p Value: £13,230ReNeuron Group (RENE) Director name: Mr Olav HellebøAmount purchased: 322,778 @ 3.10p Value: £10,006Top Director SellsFuller Smith & Turner (FSTA) Director name: Mr Simon EmenyAmount sold: 26,198 @ 972.00p Value: £254,645Proactis Holdings (PHD) Director name: Mr Sean A McDonoughAmount sold: 100,000 @ 87.00p Value: £87,000Quadrise Fuels International (QFI) Director name: Mr Jason MilesAmount sold: 100,000 @ 18.00p Value: £18,000Top Director BuysSevern Trent (SVT) Director name: Mr Andrew DuffAmount purchased: 4,684 @ 2,115.90p Value: £99,109Proactis Holdings (PHD) Director name: Mr Alan John AubreyAmount purchased: 25,000 @ 87.00p Value: £21,750Proactis Holdings (PHD) Director name: Mr Rodney PottsAmount purchased: 25,000 @ 87.00p Value: £21,750Proactis Holdings (PHD) Director name: Mr Rodney D JonesAmount purchased: 25,000 @ 87.00p Value: £21,750Proactis Holdings (PHD) Director name: Mr Timothy J SykesAmount purchased: 25,000 @ 87.00p Value: £21,750Bushveld Minerals Limited (BMN) Director name: Mr Ian Clyde WatsonAmount purchased: 540,000 @ 2.45p Value: £13,230ReNeuron Group (RENE) Director name: Mr Olav HellebøAmount purchased: 322,778 @ 3.10p Value: £10,006Top Director SellsFuller Smith & Turner (FSTA) Director name: Mr Simon EmenyAmount sold: 26,198 @ 972.00p Value: £254,645Proactis Holdings (PHD) Director name: Mr Sean A McDonoughAmount sold: 100,000 @ 87.00p Value: £87,000Quadrise Fuels International (QFI) Director name: Mr Jason MilesAmount sold: 100,000 @ 18.00p Value: £18,000