Dividend
Subject to shareholder approval, a final dividend of 7.8 pence per share will be payable which will bring the full year dividend to 12.4 pence per share (2014: 12.0 pence per share), an increase of 3.3% for the year. The full year dividend of 12.4 pence per share represents a total payment equivalent to approximately 33% of pre-exceptional post-tax earnings for the full year 2015 which is slightly below our target pay-out rate of 35%. The final dividend will be paid on 13 May 2016 to shareholders on the register at the close of business on 8 April 2016. The shares will be marked ex-dividend on 7 April 2016.
