Tate & Lyle
Website:
Tate & Lyle
Index:
FTSE 250
EPIC: TATE
Supersector:
Food, Beverage and Tobacco
Sector:
Food Producers
Subsector:
Food Products
Market Cap:
£1.68B
Payout Frequency: Semi-Annual
Tate & Lyle Dividend Analysis and Summary
Key Dividend Details
- Dividend type: Interim
- Amount: 6.6p per share (vs 6.4p in 2024; +~3.1%)
- Policy: Interim set at one third of the prior full-year dividend
- Implied prior-year full-year dividend: ~19.8p
- Ex-dividend date: 20/11/2025 (derived from record date)
- Record date: 21/11/2025
- Payment date: 05/01/2026
- DRIP: Available via www.shareview.co.uk/info/drip
Context and Policy Signposts
- The Board reaffirms its policy linking the interim to one third of the prior year’s full-year dividend, indicating a disciplined, formula-based approach.
- Interim uplift to 6.6p signals cautious, incremental dividend growth.
Short Analysis: Sustainability and Growth
- Sustainability: The formulaic policy supports predictability and suggests the interim is well-aligned with prior-year distributions. Without current-period cash flow metrics disclosed here, coverage cannot be quantified from this RNS alone. However, the modest increase and policy discipline point to a manageable payout trajectory.
- Growth trajectory: ~3% interim increase implies steady, not aggressive, dividend growth. This leaves room for reinvestment while maintaining shareholder returns.
- Support from financial performance/capital allocation: The company notes an enlarged group post-CP Kelco acquisition and pro forma revenue of £2.12bn (FY to 31/03/2025). Management’s adherence to the dividend formula alongside ongoing integration suggests a balanced capital allocation—maintaining dividends while funding strategic expansion.
Structural Changes and Potential Impact on Dividends
- M&A: Recent acquisition of CP Kelco, creating a larger, more solutions-focused ingredients group. Integration and any associated financing costs could influence free cash flow and future dividend headroom in the near term, but scale and product breadth may enhance medium-term cash generation.
Risks and Flags
- Integration and leverage risk: CP Kelco integration costs and potential higher leverage could temporarily tighten dividend cover.
- Operational/cost risks: Input cost volatility, FX movements, and end-market demand softness could pressure margins and cash flow.
- Policy sensitivity: While the interim is formula-based, the full-year dividend remains at Board discretion, leaving scope for adjustment if trading or balance sheet conditions warrant.
Read more
Tate & Lyle Annual Dividend Yield - 5.18%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 21/11/2024 |
06/01/2025 |
Interim |
6.40p |
GBX |
| 19/06/2025 |
01/08/2025 |
Final |
13.40p |
GBX |
Total (Annual Dividends Per Share):
19.80p
Dividend Yield =
Annual Dividends Per Share (19.80p)
÷ Share Price (382.2p)
= 5.18%
Tate & Lyle Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 20/11/2025 |
05/01/2026 |
Interim |
6.6000p |
GBX |
| 19/06/2025 |
01/08/2025 |
Final |
13.40p |
GBX |
| 21/11/2024 |
06/01/2025 |
Interim |
6.40p |
GBX |
| 20/06/2024 |
02/08/2024 |
Final |
12.90p |
GBX |
| 23/11/2023 |
05/01/2024 |
Interim |
6.20p |
GBX |
| 22/06/2023 |
02/08/2023 |
Final |
13.10p |
GBX |
| 24/11/2022 |
04/01/2023 |
Interim |
5.40p |
GBX |
| 30/06/2022 |
05/08/2022 |
Final |
12.80p |
GBX |
| 03/05/2022 |
16/05/2022 |
Special |
107.00p |
GBX |
| 25/11/2021 |
05/01/2022 |
Interim |
9.00p |
GBX |
| 24/06/2021 |
06/08/2021 |
Final |
22.00p |
GBX |
| 19/11/2020 |
06/01/2021 |
Interim |
8.80p |
GBX |
| 18/06/2020 |
31/07/2020 |
Final |
20.80p |
GBX |
| 21/11/2019 |
03/01/2020 |
Interim |
8.80p |
GBX |
| 20/06/2019 |
31/07/2019 |
Final |
20.80p |
GBX |
| 22/11/2018 |
04/01/2019 |
Interim |
8.60p |
GBX |
| 21/06/2018 |
01/08/2018 |
Final |
20.30p |
GBX |
| 30/11/2017 |
05/01/2018 |
Interim |
8.40p |
GBX |
| 29/06/2017 |
01/08/2017 |
Final |
19.80p |
GBX |
| 24/11/2016 |
03/01/2017 |
Interim |
8.20p |
GBX |
| 30/06/2016 |
29/07/2016 |
Final |
19.80p |
GBX |
| 19/11/2015 |
04/01/2016 |
Interim |
8.20p |
GBX |
| 02/07/2015 |
31/07/2015 |
Final |
19.80p |
GBX |
| 20/11/2014 |
02/01/2015 |
Interim |
8.20p |
GBX |
| 25/06/2014 |
01/08/2014 |
Final |
19.80p |
GBX |
| 20/11/2013 |
03/01/2014 |
Interim |
7.80p |
GBX |
| 26/06/2013 |
02/08/2013 |
Final |
18.80p |
GBX |
| 28/11/2012 |
04/01/2013 |
Interim |
7.40p |
GBX |
| Year |
Interim |
Final |
Special |
Currency |
Total |
Change |
| 2024 |
6.400 |
12.900 |
|
GBX |
19.300 |
0.000 |
| 2023 |
6.200 |
13.100 |
|
GBX |
19.300 |
-84.580 |
| 2022 |
5.400 |
12.800 |
107.000 |
GBX |
125.200 |
303.870 |
| 2021 |
9.000 |
22.000 |
|
GBX |
31.000 |
4.720 |
| 2020 |
8.800 |
20.800 |
|
GBX |
29.600 |
0.000 |
| 2019 |
8.800 |
20.800 |
|
GBX |
29.600 |
2.420 |
| 2018 |
8.600 |
20.300 |
|
GBX |
28.900 |
2.480 |
| 2017 |
8.400 |
19.800 |
|
GBX |
28.200 |
0.710 |
| 2016 |
8.200 |
19.800 |
|
GBX |
28.000 |
0.000 |
| 2015 |
8.200 |
19.800 |
|
GBX |
28.000 |
0.000 |
| 2014 |
8.200 |
19.800 |
|
GBX |
28.000 |
5.260 |
| 2013 |
7.800 |
18.800 |
|
GBX |
26.600 |
259.450 |
| 2012 |
7.400 |
|
|
GBX |
7.400 |
|
Tate & Lyle Dividend Calculator
Tate & Lyle Dividend Growth
| Dividend Growth (1Y) |
3.63%
|
| Dividend CAGR (5Y) |
-10.35%
|
| Years of Growth |
–
|
| Payout Ratio |
258.82%
|
| Buyback Yield |
-9.26%
|
| Shareholder Yield |
-3.97%
|
| P/E Ratio (TTM) | 48.15 |
|---|
| Forward P/E | 8.7 |
|---|
| P/FCF | 28.71 |
|---|
| Earnings Yield | 2.04% |
|---|
| FCF Yield | 3.48% |
|---|
| ROE | 2.33% |
|---|
| ROCE | 8.83% |
|---|
| Profit Margin | 1.71% |
|---|
| Operating Margin | 13.45% |
|---|
| Gross Margin | 58.44% |
|---|