Dividends
We aim to provide shareholders with attractive long-term and sustainable returns, primarily in the form of quarterly dividends.
Our dividends are underpinned by our secure and stable income. We benefit from long leases with inflation-linked annual rent reviews, and carefully select and monitor our tenants, to make sure they are financially sound and committed to providing high standards of care.
Our dividend policy is to maintain a progressive dividend that’s covered by adjusted earnings per share. Adjusted earnings exclude non-cash and one-off items, and we believe they therefore give us the best basis for considering the level of payout.
Target dividend 2024
For the year ending 31 December 2024, our target dividend is 6.95 pence per share.
This is a target only and not a profit forecast. There can be no assurance that the target will be met and it should not be taken as an indicator of the Company’s expected or actual results.
2024 dividends
| Dividend | Ex-dividend date | Payment date | PID (p) | Non-PID (p) | Total |
|---|---|---|---|---|---|
| Q1 Interim | 2 May 2024 | 17 May 2024 | 1.7375 | — | 1.7375 |
| Q2 Interim | 1 August 2024 | 16 August 2024 | 1.7375 | — | 1.7375 |
| Q3 Interim | 7 November 2024 | 22 November 2024 | 1.7375 | — | 1.7375 |
| Q4 Interim | TBC | TBC | — | — | — |
| Total | — | — | 5.2125 | — | 5.2125 |
2023 dividends
| Dividend | Ex-dividend date | Payment date | PID (p) | Non-PID (p) | Total |
|---|---|---|---|---|---|
| Q1 Interim | 4 May 2023 | 19 May 2023 | 1.6925 | — | 1.6925 |
| Q2 Interim | 17 August 2023 | 20 September 2023 | 1.6925 | — | 1.6925 |
| Q3 Interim | 2 November 2023 | 24 November 2023 | 1.6925 | — | 1.6925 |
| Q4 Interim | 8 February 2024 | 23 February 2024 | 1.6925 | — | 1.6925 |
| Total | — | — | 6.77 | — | 6.77 |
2022 dividends
| Dividend | Ex-dividend date | Payment date | PID (p) | Non-PID (p) | Total |
|---|---|---|---|---|---|
| Q1 Interim | 5 May 2022 | 20 May 2022 | 1.635 | — | 1.635 |
| Q2 Interim | 25 August 2022 | 9 September 2022 | 1.635 | — | 1.635 |
| Q3 Interim | 3 November 2022 | 25 November 2022 | 1.635 | — | 1.635 |
| Q4 Interim | 9 February 2023 | 24 February 2023 | 1.635 | — | 1.635 |
| Total | — | — | 6.54 | — | 6.54 |
2021 dividends
| Dividend | Ex-dividend date | Payment date | PID (p) | Non-PID (p) | Total |
|---|---|---|---|---|---|
| Q1 Interim | 27 May 2021 | 11 June 2021 | 1.6025 | — | 1.6025 |
| Q2 Interim | 5 August 2021 | 27 August 2021 | 1.6025 | — | 1.6025 |
| Q3 Interim | 28 October 2021 | 19 November 2021 | 1.6025 | — | 1.6025 |
| Q4 Interim | 24 February 2022 | 11 March 2022 | 1.6025 | — | 1.6025 |
| Total | — | — | 6.41 | — | 6.41 |
2020 dividends
| Dividend | Ex-dividend date | Payment date | PID (p) | Non-PID (p) | Total |
|---|---|---|---|---|---|
| Q1 Interim | 21 May 2020 | 12 June 2020 | 1.5725 | — | 1.5725 |
| Q2 Interim | 20 August 2020 | 4 September 2020 | 1.5725 | — | 1.5725 |
| Q3 Interim | 5 November 2020 | 27 November 2020 | 0.7863 | 0.7862 | 1.5725 |
| Q4 Interim | 11 February 2021 | 26 February 2021 | 1.5725 | — | 1.5725 |
| Total | — | — | 5.5038 | 0.7862 | 6.29 |
2019 dividends
| Dividend | Ex-dividend date | Payment date | PID (p) | Non-PID (p) | Total |
|---|---|---|---|---|---|
| Q1 Interim | 16 May 2019 | 7 June 2019 | 1.5425 | — | 1.5425 |
| Q2 Interim | 8 August 2019 | 30 August 2019 | 1.5425 | — | 1.5425 |
| Q3 Interim | 31 October 2019 | 22 November 2019 | — | 1.5425 | 1.5425 |
| Q4 Interim | 6 February 2020 | 21 February 2020 | 1.5425 | — | 1.5425 |
| Total | — | — | 4.6275 | 1.5425 | 6.17 |
2018 dividends
| Dividend | Ex-dividend date | Payment date | PID (p) | Non-PID (p) | Total |
|---|---|---|---|---|---|
| Q1 Interim | 3 May 2018 | 25 May 2018 | 1.5 | — | 1.5 |
| Q2 Interim | 16 August 2018 | 7 September 2018 | 1.5 | — | 1.5 |
| Q3 Interim | 1 November 2018 | 23 November 2018 | 1.5 | — | 1.5 |
| Q4 Interim | 7 February 2019 | 22 February 2019 | 1.5 | — | 1.5 |
| Total | — | — | 6.0 | — | 6.0 |
2017 dividends
| Dividend | Ex-dividend date | Payment date | PID (p) | Non-PID (p) | Total |
|---|---|---|---|---|---|
| Q2 Interim | 10 August 2017 | 31 August 2017 | 1.5 | — | 1.5 |
| Q3 Interim | 16 November 2017 | 30 November 2017 | 1.5 | — | 1.5 |
| Q4 Interim | 8 February 2018 | 22 February 2018 | 1.5 | — | 1.5 |
| Total | — | — | 4.5 | — | 4.5 |
Taxation for shareholders
For key dates see financial calendar.