The Group maintains a progressive dividend policy, aiming to increase dividends in line with long-term underlying growth in earnings and cash-flow, with the objective of maintaining a minimum dividend cover of around 2 times. The policy enables them to retain sufficient cash-flow to finance investment in the drivers of growth and meet their financial obligations. In setting the level of dividend payments, the Board considers prevailing economic conditions and future investment plans.
Reflecting the Group's strong performance and financial position, the Board is recommending a final dividend of 26.0p, bringing the total dividend for the year to 37.7p, a year-on-year increase of 8% (FY2020: 35.0p). The final dividend will be paid on 19 November 2021 to shareholders on the register at close of business on 22 October 2021.