The Annual Dividend
Our financial year runs from October 1st to September 30th. Once the financial years ends, our auditors review our accounts ready for the AGM in March.
During the AGM the Board of Directors will recommend a dividend based on the previous year’s audited accounts. Members present will then have the right to vote on whether to accept the recommendation. Once the dividend is approved the dividend is posted to members’ accounts and backdated to October 1st of the previous year.
Example: financial year October 1st 2019 to September 30th 2020.
March 16th 2021: Board meeting at which directors sign off the previous year’s accounts and agree the rate of dividend to recommend.
March 23rd 2021: AGM. Dividend approved by members. Dividend posted to members accounts and backdated to October 1st 2020.
What happens this year?
The dividend for 2020/21 can only be paid after it has been approved by members at our Annual General Meeting in March 2022. It will then be backdated to October 1st 2021. The Board of Directors expect that they will be able to recommend a dividend of 1.5% for adult accounts and 5% for junior accounts. However, in these uncertain times we cannot make forecasts about future years.