The Intercontinental Hotels Group Board is therefore proposing a final dividend of 85.9¢ in respect of 2021, an amount equivalent to the withdrawn final payment in respect of 2019. No interim dividend was paid in respect of 2021. Going forward, dividend payments will be reflective of IHG's prior approach to sustainably grow the ordinary dividend whilst targeting a level of leverage that maintains an investment grade credit rating, and ensuring careful consideration of responsibilities to all stakeholders. The Board will also continue to actively assess the opportunity for any surplus capital to be additionally returned through special dividends or share buybacks.
The ex-dividend date is Thursday 31 March 2022 and the Record date is Friday 1 April. Subject to shareholder approval at the AGM on Friday 6 May, the dividend will be paid on Tuesday 17 May.