Quarterly dividends
The Board has declared a third interim dividend for 2020 of 19 pence per share (Q3 2019: 19 pence per share).
GSK recognises the importance of dividends to shareholders and aims to distribute regular dividend payments that will be determined primarily with reference to the free cash flow generated by the business after funding the investment necessary to support the Group's future growth.
The Board currently intends to maintain the dividend for 2020 at the current level of 80p per share, subject to any material change in the external environment or performance expectations. Over time, as free cash flow strengthens, it intends to build free cash flow cover of the annual dividend to a target range of 1.25-1.50x, before returning the dividend to growth.
Payment of dividends
The equivalent interim dividend receivable by ADR holders will be calculated based on the exchange rate on 12 January 2021. An annual fee of $0.03 per ADS (or $0.0075 per ADS per quarter) is charged by the Depositary.
The ex-dividend date will be 12 November 2020, with a record date of 13 November 2020 and a payment date of 14 January 2021.
TJH