we maintain our gbx 850 fair value estimate after nomoat united utilities uu released a net loss slightly smaller than expected by us and factset consensus and guided for fiscal 2024 earnings below consensus the firm will pay a gbx 451 dividend on fiscal 2023 earnings 46 higher than in fiscal 2022 in line with the november 2021 consumer price index including owneroccupiers’ housing costs implying a 44 yield shares look materially overvalued the author or authors do not own shares in any securities mentioned in this article find out about morningstar’s editorial policies