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6 March 2007 - Scottish & Southern Energy (SSE) has announced dividends of close to $1bn in a move regarded as the start of a defence against a potential takeover bid by Eon.

Speaking at a utility conference in London, Mr Marchant said that shareholders would get a final dividend of 39.9 pence ($0.77) per share, up 22 per cent on last year, in May. That would mean a dividend for the full financial year of 55 pence per share, an 18.3 per cent increase and a payout of £474 m.

Eon of Germany has been rumoured to be eyeing SSE as a fallback option if it failed to buy Endesa of Spain for €41 bn ($54 bn). Eon's raid on Endesa is close to failure as Italy's Enel has built up a 22 per cent stake in the group.

One London analyst told The Times newspaper: "If there's a good time for SSE to be putting out good news then this is it. It makes sense for them to maximise the prospective value of the company ahead of a bidding process and push up the asking price. We are pretty sure they want to remain independent."

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