Investing.com -- British regulatory authority Ofwat has imposed a fine of nearly 123 million pounds ($165.8 million) on Thames Water.

The fine comes after two investigations into the utility company’s wastewater operations and dividend payouts.

The investigations were centered on Thames Water’s wastewater treatment procedures and the dividends it distributed to its shareholders.

Ofwat is the water services regulation authority in the UK. It oversees the water and wastewater services in England and Wales, ensuring that companies provide consumers with good quality and reasonably priced water services.

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