Dividend
In view of the AA's business model, characterised by strong cash generation, our confidence in the transformation plans and the interest cost savings facilitated by the refinancing, the Board announced in March our intention to pay at least £50m in dividends in respect of the 2016 financial year.
Given the good progress we are making in the transformation, we now propose a total dividend of approximately £55m, or 9 pence per share, for the full year. The interim dividend of 3.5 pence per share, declared today, represents 39% of that total and will be paid on 23 October 2015 to shareholders registered on 2 October 2015 (with the ex-dividend date set for 1 October 2015). It remains our intention to pursue a progressive dividend policy.
