--British Gas-owner Centrica PLC is set to cut its dividend and launch a sale of its 69% stake in oil-and-gas business Spirit Energy, London's the Sunday Times reports, citing unnamed sources.

--This is part of Chief Executive Iain Conn's attempt to revive the company, as intense competition and turmoil in the utilities sector have left the group at risk of being relegated from the FTSE 100, the Sunday Times reports.

 

Full story: https://bit.ly/2Lz3aLf

 

Write to Barcelona editors at barcelonaeditors@dowjones.com

 

(END) Dow Jones Newswires

July 22, 2019 01:58 ET (05:58 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Centrica (PK) (USOTC:CPYYY)
Historical Stock Chart
From Jun 2020 to Jul 2020 Click Here for more Centrica (PK) Charts.
Centrica (PK) (USOTC:CPYYY)
Historical Stock Chart
From Jul 2019 to Jul 2020 Click Here for more Centrica (PK) Charts.