Haleon
Website:
Haleon
Index:
FTSE 100
EPIC: HLN
Supersector:
Health Care
Sector:
Pharmaceuticals and Biotechnology
Subsector:
Pharmaceuticals
Market Cap:
£30.23B
Payout Frequency: Semi-Annual
Haleon Dividend Analysis and Summary
Key Dividend Details
- Final dividend: 4.9p per ordinary share
- Total FY2025 dividend: 7.1p per share
- Payout ratio: ~38% of FY2025 adjusted earnings (FY2024: 37%)
- Ex-dividend date (ordinary shares): 09/04/2026
- Record date: 10/04/2026
- Payment date: 14/05/2026
- ADS ex-dividend date: 10/04/2026
- DRIP election deadline: 24/04/2026 (via Equiniti)
Policy and Guidance
- Company expects to grow the ordinary dividend at least in line with adjusted earnings, subject to market conditions and Board approval.
Analysis: Sustainability and Growth
- Coverage: A ~38% payout implies c.2.6x cover on an adjusted earnings basis, indicating solid headroom. Management cites strong free cash flow and organic operating profit growth, reinforcing dividend sustainability.
- Growth trajectory: Guidance to grow with adjusted earnings points to steady, earnings-linked DPS increases rather than aggressive re-rating of the payout. The slight uptick in payout ratio (37% to 38%) is conservative and consistent.
- Support from financials/capital allocation: Emphasis on free cash flow generation supports ongoing distributions. No competing capital uses (e.g., buybacks/M&A) flagged in this announcement, suggesting room to maintain the dividend within current payout parameters.
Structural Changes / Notable Items
- No demergers, M&A, or share structure changes announced in this RNS that would directly affect dividend policy.
- ADS holders have a different ex-dividend date (10/04/2026), which may affect timing for US investors.
Risks / Flags
- Final dividend remains subject to shareholder approval.
- Future growth commitment is conditional on market conditions and Board approval.
- Reliance on adjusted earnings for payout calculations; any divergence between adjusted and statutory results could influence perceived coverage.
Read more
Haleon Annual Dividend Yield - 1.98%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 24/04/2025 |
05/06/2025 |
Final |
4.60p |
GBX |
| 14/08/2025 |
18/09/2025 |
Interim |
2.20p |
GBX |
Total (Annual Dividends Per Share):
6.80p
Dividend Yield =
Annual Dividends Per Share (6.80p)
÷ Share Price (344.1p)
= 1.98%
Haleon Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 09/04/2026 |
14/05/2026 |
Final |
4.9000p |
GBX |
| 14/08/2025 |
18/09/2025 |
Interim |
2.20p |
GBX |
| 24/04/2025 |
05/06/2025 |
Final |
4.60p |
GBX |
| 15/08/2024 |
19/09/2024 |
Interim |
2.00p |
GBX |
| 14/03/2024 |
16/05/2024 |
Final |
4.20p |
GBX |
| 24/08/2023 |
05/10/2023 |
Interim |
1.80p |
GBX |
| 16/03/2023 |
27/04/2023 |
Final |
2.40p |
GBX |
| Year |
Interim |
Final |
Currency |
Total |
Change |
| 2024 |
2.000 |
|
GBX |
2.000 |
-66.660 |
| 2023 |
1.800 |
4.200 |
GBX |
6.000 |
150.000 |
| 2022 |
|
2.400 |
GBX |
2.400 |
|
Haleon Dividend Calculator
Haleon Dividend Growth
| Dividend Growth (1Y) |
7.58%
|
| Dividend CAGR (5Y) |
–
|
| Years of Growth |
3
|
| Payout Ratio |
36.71%
|
| Buyback Yield |
1.62%
|
| Shareholder Yield |
3.65%
|
| P/E Ratio (TTM) | 18.38 |
|---|
| Forward P/E | 16.53 |
|---|
| P/FCF | 13.09 |
|---|
| Earnings Yield | 5.51% |
|---|
| FCF Yield | 7.64% |
|---|
| ROE | 10.27% |
|---|
| ROCE | 9.04% |
|---|
| Profit Margin | 15.11% |
|---|
| Operating Margin | 22.69% |
|---|
| Gross Margin | 64.77% |
|---|