Intention of Board to adopt a dividend policy
The Directors intend that the Company will pay interim and final dividends going forwards, with the interim dividend to be announced at the time of the release of the Company’s interim results and the final dividend at the time of the release of the Company’s annual results.
The Board intends to pay interim and final dividends representing a pay-out ratio of c.30 per cent. of the Group’s profit after tax, adjusted for any exceptional items. It is expected that the first dividend will be declared by the Company at the time of the release of the annual results for the period from incorporation to 31st March 2020.
The Board may revise or adapt the Group’s dividend policy from time to time in line with the actual results of the Group and the cash requirements of the Group’s activities. The ability of the Company to pay dividends is dependent on a number of factors including, inter alia, the results of the Group’s operations, its financial condition, anticipated cash requirements, regulatory capital requirements, future prospects and its profits available for distribution, and there can be no assurance that the Company will pay dividends or, if a dividend is paid, of the amount that dividend will be. Given that the Company was incorporated on 26 April 2019, it has not previously paid any dividends.