St James's Place

Website: St James's Place
Index: FTSE 100
EPIC: STJ
Supersector: Insurance
Sector: Life Insurance
Subsector: Life Insurance
Market Cap: £6.78B
Payout Frequency: Semi-Annual

Next St James's Place Dividend

St James's Place next goes ex-dividend on 26/03/2026. This will be the Final dividend for 2026.

The dividend per share amount is 12.0000p (GBP) and the payment date is 08/05/2026.

St James's Place Dividend Analysis and Summary

Key Dividend Details

Final dividend (FY2025): 12.00p per share (unchanged YoY)
Total dividend (FY2025): 18.00p per share
Ex-dividend date: 26/03/2026 (derived from record date)
Record date: 27/03/2026
Payment date: 08/05/2026
Dividend policy (from FY2026): total shareholder returns targeted at 70% of the Underlying cash result, of which at least 40% via ordinary dividends (i.e., at least 28% of Underlying cash as dividends); balance via buy-backs
Board intention for FY2026 interim dividend: 6.00p per share
Buy-backs: programme starting March 2026 totalling £122.6m (final FY2025 buy-back £103.9m + OSE release buy-back £18.7m)

Dividend Cover and Capacity

Underlying cash result (post-tax, FY2025): £462.3m; total FY2025 dividends c.£95.2m ? dividend cover ˜ ~4.9x
Underlying cash basic EPS: 87.0p vs DPS 18.0p ? cover ˜ ~4.8x
Free liquidity at Group centre: £271.4m (up from £148.1m)
Ordinary shareholder returns for FY2025: £231.2m (50% of Underlying cash), split between dividends and buy-backs

Short, Focused Analysis

Sustainability: The FY2025 dividend is well-covered by cash generation and supported by strong liquidity and reduced corporate borrowings. Guidance to return 70% of Underlying cash from FY2026 anchors a robust payout framework, with a dividend floor of at least 28% of Underlying cash.
Growth trajectory: DPS was flat YoY (18p), but the shift to a higher total payout and ongoing buy-backs should be accretive per share. Medium-term tailwinds include the maturity of “gestation” FUM, expected to add c.£38m to post-tax cash in 2026 rising to c.£303m by 2031, and a cost-efficiency programme targeting c.£100m pa savings by 2027.
Coverage vs performance: Although 2026 is flagged as the first full year under the lower-margin charging structure (near-term profitability dip), record FUM (£220bn), net inflows, and disciplined capital allocation underpin dividend capacity.

Structural and Policy Developments Affecting Future Dividends

Capital returns policy accelerated: from FY2026, total shareholder returns set at 70% of Underlying cash (dividends at least 40% of that total).
Share buy-backs: Ongoing ordinary programmes plus additional buy-backs funded by releases from the Ongoing Service Evidence (OSE) provision; 17.0m shares repurchased in 2025 support per-share growth.
Charging structure reform (Aug 2025): Simpler, comparable fees introduced. Near-term margin pressure expected in 2026 (and “margin from new business” guided to ~zero), but a rising proportion of mature FUM and gestation roll-off should improve medium-term cash generation.

Risks and Flags to Dividend Stability

OSE review outstanding: Provision of £272.3m remains; while 2025 saw net releases, sensitivities are material. The programme is expected to complete in 2026.
Near-term earnings dip: First full year under the new charging structure expected to reduce margins in 2026; execution risk around cost savings until 2027.
Market dependency: FUM-linked revenues remain sensitive to market performance and client behaviour; policyholder tax asymmetry can add volatility.
Regulatory and levy headwinds: Higher FSCS levy and evolving Consumer Duty expectations could pressure costs and capital allocation flexibility.

St James's Place Annual Dividend Yield - 1.39%

Dividends Used in Calculation:

Ex-Dividend Date	Payment Date	Type	Amount	Currency
10/04/2025	23/05/2025	Final	12.00p	GBX
07/08/2025	19/09/2025	Interim	6.00p	GBX

Total (Annual Dividends Per Share): 18.00p

Dividend Yield = Annual Dividends Per Share (18.00p) ÷ Share Price (1292.5p) = 1.39%

Ex Dividend Date	Payment Date	Type	Amount	Currency
26/03/2026	08/05/2026	Final	12.0000p	GBX
07/08/2025	19/09/2025	Interim	6.00p	GBX
10/04/2025	23/05/2025	Final	12.00p	GBX
22/08/2024	20/09/2024	Interim	6.00p	GBX
25/04/2024	24/05/2024	Final	8.00p	GBX
24/08/2023	22/09/2023	Interim	15.83p	GBX
04/05/2023	31/05/2023	Final	37.19p	GBX
25/08/2022	23/09/2022	Interim	15.59p	GBX
28/04/2022	27/05/2022	Final	40.41p	GBX
26/08/2021	24/09/2021	Interim	11.55p	GBX
15/04/2021	21/05/2021	Final	38.49p	GBX
04/03/2021	24/03/2021	Interim	11.22p	GBX
07/05/2020	27/05/2020	2nd Interim	20.0p	GBX
16/04/2020	22/05/2020	Final	31.22p	GBX
29/08/2019	27/09/2019	Interim	18.49p	GBX
04/04/2019	24/05/2019	Final	29.73p	GBX
30/08/2018	28/09/2018	Interim	18.49p	GBX
05/04/2018	01/06/2018	Final	27.45p	GBX
31/08/2017	29/09/2017	Interim	15.41p	GBX
06/04/2017	12/05/2017	Final	20.67p	GBX
01/09/2016	30/09/2016	Interim	12.33p	GBX
07/04/2016	13/05/2016	Final	17.24p	GBX
03/09/2015	02/10/2015	Interim	10.72p	GBX
09/04/2015	15/05/2015	Final	14.37p	GBX
27/08/2014	24/09/2014	Interim	8.93p	GBX
09/04/2014	16/05/2014	Final	9.58p	GBX
28/08/2013	25/09/2013	Interim	6.38p	GBX
10/04/2013	24/05/2013	Final	6.39p	GBX
22/08/2012	19/09/2012	Interim	4.25p	GBX
28/03/2012	16/05/2012	Final	4.80p	GBX
03/08/2011	14/09/2011	Interim	3.20p	GBX
02/03/2011	18/05/2011	Final	3.98p	GBX
04/08/2010	15/09/2010	Interim	2.03p	GBX
03/03/2010	18/05/2010	Final	2.66p	GBX
05/08/2009	16/09/2009	Interim	1.84p	GBX
04/03/2009	13/05/2009	Final	2.55p	GBX
06/08/2008	17/09/2008	Interim	1.66p	GBX
05/03/2008	14/05/2008	Final	2.55p	GBX
08/08/2007	19/09/2007	Interim	1.75p	GBX
07/03/2007	18/05/2007	Final	2.15p	GBX
07/03/2007	18/05/2007	Special	6.35p	GBX
03/08/2005	19/09/2005	Interim	1.30p	GBX
09/03/2005	18/05/2005	Final	1.60p	GBX
04/08/2004	14/09/2004	Interim	1.25p	GBX
17/03/2004	17/05/2004	Final	1.50p	GBX

Year	Interim	Final	Special	Currency	Total	Change
2024	6.000	8.000		GBX	14.000	-73.590
2023	15.830	37.190		GBX	53.020	-5.320
2022	15.590	40.410		GBX	56.000	-8.580
2021	22.770	38.490		GBX	61.260	19.600
2020		31.220		GBX	51.220	6.220
2019	18.490	29.730		GBX	48.220	4.960
2018	18.490	27.450		GBX	45.940	27.320
2017	15.410	20.670		GBX	36.080	22.010
2016	12.330	17.240		GBX	29.570	17.850
2015	10.720	14.370		GBX	25.090	35.540
2014	8.930	9.580		GBX	18.510	44.940
2013	6.380	6.390		GBX	12.770	200.470
2012	4.250			GBX	4.250	-46.870
2011	3.200	4.800		GBX	8.000	33.110
2010	2.030	3.980		GBX	6.010	33.550
2009	1.840	2.660		GBX	4.500	6.880
2008	1.660	2.550		GBX	4.210	-60.460
2007	1.750	2.550	6.350	GBX	10.650	395.340
2006		2.150		GBX	2.150	65.380
2005	1.300			GBX	1.300	-54.380
2004	1.250	1.600		GBX	2.850	90.000
2003		1.500		GBX	1.500

St James's Place Dividend Calculator

Number of Shares:

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St James's Place Dividend Growth

Dividend Growth (1Y)	–
Dividend CAGR (5Y)	9.91%
Years of Growth	1
Payout Ratio	18.13%
Buyback Yield	2.04%
Shareholder Yield	3.43%

P/E Ratio (TTM)	13.07
Forward P/E	16.26
P/FCF	6.25
Earnings Yield	7.97%
FCF Yield	15.99%
ROE	38.61%
ROCE	0.61%
Profit Margin	1.76%
Operating Margin	4.31%
Gross Margin	12.77%