Marks & Spencer Group
Website:
Marks & Spencer Group
Index:
FTSE 100
EPIC: MKS
Supersector:
Retail
Sector:
General Retailers
Subsector:
Broadline Retail
Market Cap:
£7.76B
Payout Frequency: Semi-Annual
Marks & Spencer Group Dividend Analysis and Summary
Dividend Summary (Marks and Spencer Group PLC)
- Declared dividend: Final dividend of 3.0p per share, taking the full-year dividend to 4.2p per share (subject to AGM approval).
- Ex-dividend date: 04/06/2026.
- Record date: 05/06/2026.
- Payment date: 10/07/2026.
- DRIP: Dividend Reinvestment Plan available; new election deadline 19/06/2026.
Context and Policy Notes
- The final dividend is contingent on shareholder approval at the forthcoming AGM.
- No special dividend or share buyback was mentioned in this RNS.
- Preliminary Results for the 52 weeks ended 28/03/2026 were released alongside this notice; detailed earnings, cash flow and balance sheet metrics are in the accompanying results materials.
Analysis: Sustainability and Growth
- Sustainability: The Board’s proposal of a 3.0p final dividend and total 4.2p for the year suggests confidence in current trading while maintaining a measured payout. However, the RNS text here does not disclose earnings, free cash flow, or net debt; investors should confirm dividend cover and cash conversion in the full Preliminary Results.
- Growth trajectory: With a modest full-year dividend, M&S appears to be balancing shareholder returns with ongoing reinvestment. A progressive trajectory from here will likely depend on sustained profit growth and cash generation evidenced in FY26 and guidance for FY27.
- Financial and capital allocation support: Absence of buybacks or special distributions in this notice implies a focus on ordinary dividends and operational investment. The availability of a DRIP offers an option to recycle cash into equity but does not change underlying cash outflow. Strength of dividend cover (EPS/FCF vs. 4.2p) remains the key metric to verify in the detailed results.
Structural Changes and Policy Signals
- No structural changes (e.g., demergers, M&A, share consolidation) are flagged in this RNS that would directly affect the dividend framework.
- Policy remains an ordinary dividend paid with interim/final cadence; no explicit change in dividend policy was communicated here.
Risks / Flags to Dividend Stability
- Operational cyclicality: Exposure to UK consumer demand and retail margin pressures could affect future cash generation and payout capacity.
- Cost and inflation dynamics: Wage, energy, and supply chain costs can compress margins, impacting dividend cover if not offset by pricing/mix.
- Execution risk: The continuation of any turnaround or growth initiatives (details in the full results) is important to sustain and grow the dividend.
Read more
Marks & Spencer Group Annual Dividend Yield - 1.13%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 27/11/2025 |
09/01/2026 |
Interim |
1.2000p |
GBX |
| 04/06/2026 |
10/07/2026 |
Final |
3.0000p |
GBX |
Total (Annual Dividends Per Share):
4.20p
Dividend Yield =
Annual Dividends Per Share (4.20p)
÷ Share Price (372.2p)
= 1.13%
Marks & Spencer Group Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 04/06/2026 |
10/07/2026 |
Final |
3.0000p |
GBX |
| 27/11/2025 |
09/01/2026 |
Interim |
1.2000p |
GBX |
| 29/05/2025 |
04/07/2025 |
Final |
2.60p |
GBX |
| 28/11/2024 |
10/01/2025 |
Interim |
1.00p |
GBX |
| 30/05/2024 |
05/07/2024 |
Final |
2.00p |
GBX |
| 16/11/2023 |
12/01/2024 |
Interim |
1.00p |
GBX |
| 14/11/2019 |
10/01/2020 |
Interim |
3.90p |
GBX |
| 30/05/2019 |
12/07/2019 |
Final |
7.10p |
GBX |
| 15/11/2018 |
11/01/2019 |
Interim |
6.80p |
GBX |
| 31/05/2018 |
13/07/2018 |
Final |
11.90p |
GBX |
| 16/11/2017 |
12/01/2018 |
Interim |
6.80p |
GBX |
| 01/06/2017 |
14/07/2017 |
Final |
11.90p |
GBX |
| 17/11/2016 |
13/01/2017 |
Interim |
6.80p |
GBX |
| 02/06/2016 |
15/07/2016 |
Special |
4.60p |
GBX |
| 02/06/2016 |
15/07/2016 |
Final |
11.90p |
GBX |
| 12/11/2015 |
08/01/2016 |
Interim |
6.80p |
GBX |
| 28/05/2015 |
10/07/2015 |
Final |
11.60p |
GBX |
| 13/11/2014 |
09/01/2015 |
Interim |
6.40p |
GBX |
| 28/05/2014 |
11/07/2014 |
Final |
10.80p |
GBX |
| 13/11/2013 |
10/01/2014 |
Interim |
6.20p |
GBX |
| 29/05/2013 |
12/07/2013 |
Final |
10.80p |
GBX |
| 14/11/2012 |
11/01/2013 |
Interim |
6.20p |
GBX |
| Year |
Interim |
Final |
Special |
Currency |
Total |
Change |
| 2024 |
1.000 |
2.000 |
|
GBX |
3.000 |
200.000 |
| 2023 |
1.000 |
|
|
GBX |
1.000 |
-90.900 |
| 2019 |
3.900 |
7.100 |
|
GBX |
11.000 |
-41.170 |
| 2018 |
6.800 |
11.900 |
|
GBX |
18.700 |
0.000 |
| 2017 |
6.800 |
11.900 |
|
GBX |
18.700 |
-19.740 |
| 2016 |
6.800 |
11.900 |
4.600 |
GBX |
23.300 |
26.630 |
| 2015 |
6.800 |
11.600 |
|
GBX |
18.400 |
6.970 |
| 2014 |
6.400 |
10.800 |
|
GBX |
17.200 |
1.170 |
| 2013 |
6.200 |
10.800 |
|
GBX |
17.000 |
174.190 |
| 2012 |
6.200 |
|
|
GBX |
6.200 |
|
Marks & Spencer Group Dividend Calculator
Marks & Spencer Group Dividend Growth
| Dividend Growth (1Y) |
16.67%
|
| Dividend CAGR (5Y) |
-17.52%
|
| Years of Growth |
2
|
| Payout Ratio |
29.68%
|
| Buyback Yield |
-0.22%
|
| Shareholder Yield |
0.9%
|
| P/E Ratio (TTM) | 30.52 |
|---|
| Forward P/E | 11.59 |
|---|
| P/FCF | 12.83 |
|---|
| Earnings Yield | 3.36% |
|---|
| FCF Yield | 7.79% |
|---|
| ROE | 7.8% |
|---|
| ROCE | 6.43% |
|---|
| Profit Margin | 1.5% |
|---|
| Operating Margin | 2.65% |
|---|
| Gross Margin | 30.76% |
|---|