Dividend policy
The Board has adopted a dividend policy based on an expected 65% payout ratio. It is expected that interim dividends will equate to approximately 40% of the previous year's total ordinary dividend.
Surplus capital accrued will be returned to shareholders periodically.
Dividend information
| Pence* | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|---|
| Interim dividend | 1.33 | 1.33 | 1.46 | 1.50 | 1.50 | 2.46 | 2.78 | 3.50 |
| Final dividend | 1.35 | 1.61 | 2.24 | 3.33 | 4.66 | 4.50 | 4.59 | 7.25 |
| Ordinary dividends | 2.68 | 2.94 | 3.70 | 4.83 | 6.16 | 6.96 | 7.37 | 10.75 |
| Special dividends | - | - | 2.03 | - | - | 5.00 | - | - |
| Total dividends | 2.68 | 2.94 | 5.73 | 4.83 | 6.16 | 11.96 | 7.37 | 10.75 |