Dividend policy
The Directors intend to adopt a progressive dividend policy that will reflect the long-term earnings and cash flow potential of the Group as well as the Group’s currently modest investment and regulatory capital requirements.
In circumstances where capital is accumulated in the Group which the Directors believe to be surplus to the Group's requirements, the Directors intend to return surplus capital to shareholders in an appropriate manner, including by way of special dividend.
On 1 September 2011 the Group announced its full year results and at the same time declared a final ordinary dividend of 8.41 pence per share and a final special dividend of 5.96 pence per share. The final and special dividends totalling 14.37 pence per share are payable on 29 September 2011 to all shareholders on the register at 9 September 2011.
The overall dividend declared for the year ending 30 June 2011 was 18.87 pence per share, up 59% on the previous year’s total dividend of 11.88 pence per share.
In circumstances where capital is accumulated in the Group which the Directors believe to be surplus to the Group's requirements, the Directors intend to return surplus capital to shareholders in an appropriate manner, including by way of special dividend.
On 1 September 2011 the Group announced its full year results and at the same time declared a final ordinary dividend of 8.41 pence per share and a final special dividend of 5.96 pence per share. The final and special dividends totalling 14.37 pence per share are payable on 29 September 2011 to all shareholders on the register at 9 September 2011.
The overall dividend declared for the year ending 30 June 2011 was 18.87 pence per share, up 59% on the previous year’s total dividend of 11.88 pence per share.