Splashing the cash...

The UK’s biggest listed water firm is dishing out £265million to shareholders.

United Utilities, which supplies seven million homes across northwest England, upped its dividend to 38.87p a share. It took the shareholder reward over the past three years to £750m.

It comes as Labour said it will renationalise water companies if it wins the general election.

United’s results showed annual profits rose 3% to £622m.

But investment meant its corporation tax rate was just 11%, compared with a headline rate of 20%.

Boss Steve Mogford, whose £707,000 salary is five times that of Prime Minister Theresa May, and part of a £2.8m package last year, hailed an extra £100m of investment yesterday.

United also claimed its customer satisfaction was at an all-time high.