Dividend:

·    Total dividends declared of 8.43p per Ordinary Share for the twelve months ended 31 March 2025 (31 March 2024: 8.35p).

·     Dividend cover for the twelve months ended 31 March 2025 was 1.1x (31 March 2024: 1.3x).

·    The Board is pleased to reconfirm its full-year dividend target guidance for the year ending 31 March 2026 of 8.43p per Ordinary Share (31 March 2025: 8.43p).

·     As at 13 June 2025, the Company offers an attractive dividend yield of c.12%.

·     The full-year dividend target per Ordinary Share for the year ending 31 March 2026 is forecast to be covered in a range of 1.1x – 1.3x by earnings post-debt amortisation. 

·     As at 31 March 2025, the Company had declared total Ordinary Share dividends of £395m since inception, the equivalent to 76.26p per Ordinary Share.

Anyone who owned for TR may be disappointed but for dividend hunters they are well on the way to achieving the Holy Grail of investing in having a share that generates income and sits in your account at a zero, zilch cost.