Next
Website:
Next
Index:
FTSE 100
EPIC: NXT
Supersector:
Retail
Sector:
General Retailers
Subsector:
Apparel Retailers
Market Cap:
£16.42B
Payout Frequency: Semi-Annual
Next Dividend Analysis and Summary
Key dividend details
- Dividend: Interim ordinary dividend of 87p per share (GBP)
- Ex-dividend date: 04/12/2025
- Record date: 05/12/2025
- Payment date: 05/01/2026
- Period: Half year ended July 2025
Analysis: sustainability and growth
- Sustainability: The declaration of a sizeable interim ordinary dividend suggests management confidence in cash generation through H1. However, the RNS excerpt provides no earnings, cash flow, or payout metrics; investors should verify dividend cover and free cash flow in the Half Year Report to gauge headroom.
- Growth trajectory: No prior-year interim comparison is included here. Assess whether 87p represents growth by benchmarking against last year’s interim and any special distributions. The timing and size are consistent with a progressive, cash-backed approach, but quantified growth cannot be confirmed from this announcement alone.
- Support from performance and capital allocation: NEXT has historically combined ordinary dividends with disciplined capital returns. This ordinary interim aligns with that framework, implying the dividend is supported by ongoing operating cash flow; confirmation requires reviewing H1 trading, margins, inventory and working capital in the full report.
Structural changes or policy signals
- No demergers, M&A, buyback changes, or policy shifts are disclosed in this RNS. No share consolidation indicated.
- The use of an ordinary interim (rather than a special) points to continuity in the dividend policy, pending full-year outcomes.
Risks and flags to dividend stability
- Macro/consumer demand: UK discretionary retail exposure leaves dividends sensitive to consumer confidence and peak trading (Q4) performance.
- Cost pressures: Wage, rent, and input cost inflation; FX on sourcing could compress margins if not offset by pricing or mix.
- Working capital: Inventory and returns dynamics around Christmas can swing cash generation and dividend cover.
- Capital allocation mix: If buybacks or special dividends resume or increase, cash prioritisation could influence future ordinary dividend growth.
Read more
Next Annual Dividend Yield - 1.74%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 05/12/2024 |
03/01/2025 |
Interim |
75.00p |
GBX |
| 03/07/2025 |
01/08/2025 |
Final |
158.00p |
GBX |
Total (Annual Dividends Per Share):
233.00p
Dividend Yield =
Annual Dividends Per Share (233.00p)
÷ Share Price (13390p)
= 1.74%
Next Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 04/12/2025 |
05/01/2026 |
Interim |
87.00p |
GBX |
| 03/07/2025 |
01/08/2025 |
Final |
158.00p |
GBX |
| 05/12/2024 |
03/01/2025 |
Interim |
75.00p |
GBX |
| 04/07/2024 |
01/08/2024 |
Final |
141.00p |
GBX |
| 07/12/2023 |
03/01/2024 |
Interim |
66.00p |
GBX |
| 06/07/2023 |
01/08/2023 |
Final |
140.0p |
GBX |
| 01/12/2022 |
03/01/2023 |
Interim |
66.00p |
GBX |
| 07/07/2022 |
01/08/2022 |
Interim |
127.00p |
GBX |
| 13/01/2022 |
28/01/2022 |
Special |
160.0p |
GBX |
| 12/08/2021 |
03/09/2021 |
Special |
110.0p |
GBX |
| 05/12/2019 |
02/01/2020 |
Interim |
57.50p |
GBX |
| 04/07/2019 |
01/08/2019 |
Final |
110.0p |
GBX |
| 06/12/2018 |
02/01/2019 |
Interim |
55.00p |
GBX |
| 05/07/2018 |
01/08/2018 |
Final |
105.00p |
GBX |
| 04/01/2018 |
25/01/2018 |
Special |
45.00p |
GBX |
| 07/12/2017 |
02/01/2018 |
Interim |
53.00p |
GBX |
| 05/10/2017 |
01/11/2017 |
Special |
45.00p |
GBX |
| 06/07/2017 |
01/08/2017 |
Final |
105.00p |
GBX |
| 06/07/2017 |
01/08/2017 |
Special |
45.00p |
GBX |
| 06/04/2017 |
02/05/2017 |
Special |
45.00p |
GBX |
| 08/12/2016 |
03/01/2017 |
Interim |
53.00p |
GBX |
| 07/07/2016 |
01/08/2016 |
Final |
105.00p |
GBX |
| 14/01/2016 |
01/02/2016 |
Special |
60.0p |
GBX |
| 10/12/2015 |
04/01/2016 |
Interim |
53.00p |
GBX |
| 08/10/2015 |
02/11/2015 |
Special |
60.00p |
GBX |
| 09/07/2015 |
03/08/2015 |
Final |
100.00p |
GBX |
| 09/07/2015 |
03/08/2015 |
Special |
60.00p |
GBX |
| 09/04/2015 |
01/05/2015 |
Special |
60.00p |
GBX |
| 15/01/2015 |
02/02/2015 |
Special |
50.00p |
GBX |
| 04/12/2014 |
02/01/2015 |
Interim |
50.00p |
GBX |
| 09/07/2014 |
01/08/2014 |
Final |
93.00p |
GBX |
| 02/04/2014 |
01/05/2014 |
Special |
50.00p |
GBX |
| 20/11/2013 |
02/01/2014 |
Interim |
36.00p |
GBX |
| 26/06/2013 |
01/08/2013 |
Final |
74.00p |
GBX |
| 21/11/2012 |
02/01/2013 |
Interim |
31.00p |
GBX |
| 27/06/2012 |
01/08/2012 |
Final |
62.50p |
GBX |
| 23/11/2011 |
03/01/2012 |
Interim |
27.50p |
GBX |
| 25/05/2011 |
01/07/2011 |
Final |
53.00p |
GBX |
| 24/11/2010 |
04/01/2011 |
Interim |
25.00p |
GBX |
| 26/05/2010 |
01/07/2010 |
Final |
47.00p |
GBX |
| 25/11/2009 |
04/01/2010 |
Interim |
19.00p |
GBX |
| 27/05/2009 |
01/07/2009 |
Final |
37.00p |
GBX |
| 26/11/2008 |
05/01/2009 |
Interim |
18.00p |
GBX |
| Year |
Interim |
Final |
Special |
Currency |
Total |
Change |
| 2024 |
75.000 |
141.000 |
|
GBX |
216.000 |
4.850 |
| 2023 |
66.000 |
140.000 |
|
GBX |
206.000 |
-41.640 |
| 2022 |
193.000 |
|
160.000 |
GBX |
353.000 |
220.900 |
| 2021 |
|
|
110.000 |
GBX |
110.000 |
-34.320 |
| 2019 |
57.500 |
110.000 |
|
GBX |
167.500 |
-18.290 |
| 2018 |
55.000 |
105.000 |
45.000 |
GBX |
205.000 |
-30.030 |
| 2017 |
53.000 |
105.000 |
135.000 |
GBX |
293.000 |
34.400 |
| 2016 |
53.000 |
105.000 |
60.000 |
GBX |
218.000 |
-43.080 |
| 2015 |
53.000 |
100.000 |
230.000 |
GBX |
383.000 |
98.440 |
| 2014 |
50.000 |
93.000 |
50.000 |
GBX |
193.000 |
75.450 |
| 2013 |
36.000 |
74.000 |
|
GBX |
110.000 |
17.640 |
| 2012 |
31.000 |
62.500 |
|
GBX |
93.500 |
16.140 |
| 2011 |
27.500 |
53.000 |
|
GBX |
80.500 |
11.800 |
| 2010 |
25.000 |
47.000 |
|
GBX |
72.000 |
28.570 |
| 2009 |
19.000 |
37.000 |
|
GBX |
56.000 |
211.110 |
| 2008 |
18.000 |
|
|
GBX |
18.000 |
|
Next Dividend Calculator
Next Dividend Growth
| Dividend Growth (1Y) |
13.43%
|
| Dividend CAGR (5Y) |
17.37%
|
| Years of Growth |
1
|
| Payout Ratio |
37.1%
|
| Buyback Yield |
1.84%
|
| Shareholder Yield |
3.58%
|
| P/E Ratio (TTM) | 20.31 |
|---|
| Forward P/E | 17.8 |
|---|
| P/FCF | 14.24 |
|---|
| Earnings Yield | 5.09% |
|---|
| FCF Yield | 7.02% |
|---|
| ROE | 48.51% |
|---|
| ROCE | 33.01% |
|---|
| Profit Margin | 12.38% |
|---|
| Operating Margin | 18.04% |
|---|
| Gross Margin | 43.92% |
|---|