Dividend policy
The Board has adopted a dividend policy based on a 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* | 2014 | 2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|---|
| Interim dividend | 0.99 | 0.99 | 1.33 | 1.33 | 1.46 |
| Final dividend | 1.64 | 1.67 | 1.35 | 1.61 | 2.24 |
| Ordinary dividends | 2.63 | 2.66 | 2.68 | 2.94 | 3.70 |
| Special dividends | - | - | - | - | 2.03 |
| Total dividends | 2.63 | 2.66 | 2.68 | 2.94 | 5.73 |