Chairman’s Statement
Dividend policy
The Board is proposing a dividend increase for 2007/08 of 15% to 33.0p per ordinary share. This will result in a final dividend of 21.3p per ordinary share. We are also targeting an increase of 8% per annum from 2008/09 to 2011/12. This uplift reflects our confidence in our growth prospects.
"The Board is confident that our new operating model
based on lines of business, combined with our significant
opportunity to grow organically, positions us well to deliver
another year of solid performance, supporting our dividend growth
policy. "
Dividends per share (pence)
Over the past five years, dividends have
grown by 92%, from 17.2p for 2002/03
to 33.0p for 2007/08.
