Dividends

12 Months Ended

Mar. 31, 2026

9. Dividends

Interim dividends are recognised when they become payable to the Company’s shareholders. Final

dividends are recognised when they are approved by shareholders.


	2026			2025			2024
	Pence per share	Cash dividend £m	Scrip dividend £m	Pence per share	Cash dividend £m	Scrip dividend £m	Pence per share	Cash dividend £m	Scrip dividend £m
Final dividend in respect of the prior year	30.88	894	617	39.12	811	643	37.60	1,325	56
Interim dividend in respect of the current year	16.35	729	80	15.84	718	59	19.40	393	320
	47.23	1,623	697	54.96	1,529	702	57.00	1,718	376

The Directors are proposing a final dividend for the year ended 31 March 2026 of 32.14p per share

that would absorb approximately £1,598 million of shareholders’ equity (assuming all amounts are

settled in cash). It will be paid on 23 July 2026 to shareholders who are on the register of members

at 29 May 2026 (subject to shareholders’ approval at the AGM). A scrip dividend will be offered as

an alternative