Interim dividend

The Board has declared an interim dividend of 7.5 pence per share, in line with the new dividend policy announced at our full year results in May. This means eligible full-time employees with the maximum allocation of 913 Free Shares will receive around £68 on 15 January 2020. This brings the total dividends since privatisation to £1,159 (before tax)*. 

Eligible part-time employees will receive a dividend based on their pro-rata allocation of Free Shares.

New dividend policy

In May 2019, we announced that we have decided to rebase the dividend and change the dividend policy. From 2019-20, our policy is for a full year dividend underpin of 15 pence per share, which may be supplemented by additional payouts in years with substantial excess cashflow. This was not a decision we have taken lightly. We have sought to find the appropriate balance between investing in the future sustainability of our business, and shareholder returns.

For more information on dividends and tax, click here. 

*Up until 4 September 2019, eligible full-time employees with the maximum allocation of 913 Free Shares have received around £1,091 (before tax) in dividends since privatisation, and will receive around £68 on 15 January 2020.