Next declares dividend as major investor trims its stake

Next PLC on Thursday declared an interim dividend of 87 pence per share, signaling confidence just days after a major investor trimmed its stake.

The British retailer said the dividend will be paid on Jan. 5, 2026.

The announcement follows a regulatory filing on Monday which showed that U.S.-based investment firm The Capital Group Companies, Inc. had cut its holding to 4.95% from 5.15%, falling below the 5% disclosure threshold.

The dividend comes after Next raised its full-year profit forecast in July by 25 million British Pounds to 1.105 billion British Pounds.

At the time, the company attributed the upgrade to a 10.5% rise in full-price sales in the second quarter, which it said was helped by favorable weather and trading disruption at a competitor.

Despite the strong performance, Next said in July that it remained cautious for the second half of the year, expecting consumer spending to dampen.

The company also said it intends to return any surplus cash not used for share buybacks via a special dividend early next year.