The delivery of the Board’s long term strategy enables the return of surplus cash to shareholders.
Originally we committed to return £1.9bn (£6.20 per share) of surplus capital to shareholders between 2012-2021.
We increased this commitment by c. £860m (£2.80 per share) on 23 February 2016 and by a further c. £77m (25p per share) on 24 February 2017. As a result the Capital Return Plan has now been increased by 49% since its inception to £9.25 per share. This amount will be returned to shareholders between 2012-2021 according to the following timetable:-
Original Plan | New Plan | Original Plan Pence Per Share | New Plan Pence Per Share |
|---|
28 June 2013 | 28 June 2013 | 75 | 75 paid▲ |
| 4 July 2014 | - | 70 paid▲ |
30 June 2015 | 2 April 2015 | 95 | 95 paid▲ |
| 1 April 2016 | - | 110 paid‡ |
| 31 March 2017 | - | 25 paid‡ |
30 June 2017 | 3 July 2017 | 110 | 110 |
| 6 July 2018 | - | 110* |
30 June 2019 | 5 July 2019 | 110 | 110* |
30 June 2020 | 6 July 2020 | 115 | 110* |
30 June 2021 | 6 July 2021 | 115 | 110* |
Total | - | 620 | 925 |
* Current anticipated profile of payments.
▲ Paid by a B/C Share Issue.
‡ Paid as an Interim Dividend.
Please note the following:
25p dividend paid on 31 March 2017:
• Ex-dividend date: 9 March 2017;
• Record date: 10 March 2017; and
• Payment date: 31 March 2017.
110p dividend to be paid on 3 July 2017:
• Ex-dividend date: 15 June 2017;
• Record date: 16 June 2017; and
• Payment date: 3 July 2017.