Shareholder returns
The 2015/16 total dividend will be not less than 5p per share, which the Board believes reflects the commitment to the capital allocation framework, while enabling cash flow flexibility to invest in delivering the turnaround. Beyond 2015/16, the dividend will be determined and communicated as appropriate by the Board.
The Directors are proposing an interim dividend of 1.50p (2014: 4.03p) per share which will be paid on 9 November 2015 to shareholders who are on the register of members on 2 October 2015. The interim dividend will absorb an estimated £35m of shareholders' funds. This amount will be charged to retained earnings when paid.
