pounds 180m payout from Yorkshire Electricity

Yorkshire Electricity confirmed a pounds 180m special dividend, taking its handout in a year above pounds 700m. The pounds 4-a-share payout is nearly 70 per cent more than the 240p flotation price when the company was privatised five years ago.

Yorkshire also announced interim pre-tax profits up 13.3 per cent to pounds 110.6m and a 10 per cent increase in dividends to 9.9p. Yorkshire - in partnership with three other regional electricity companies - is drawing up plans to reduce the cost of the move to full competition for 20 million domestic customers in 1998, expected to be some pounds 750m.