London, Jan 29, 2026, 09:00 GMT — Regular session
- Reckitt shares slipped in early London trading ahead of the upcoming record date for a 235p special dividend.
- This week, shareholders gave the green light to the payout and a share consolidation aimed at maintaining the share price roughly stable following the cash distribution.
- The company also announced new share buybacks, extending its ongoing repurchase programme.
Reckitt Benckiser Group (RKT.L) shares slipped 0.1% to 5,936 pence by 0900 GMT, as traders zeroed in on the schedule for its special dividend and the usual mechanical price adjustment that follows.
The timing is crucial since Friday marks the cutoff. Holders on the record date snag the 235 pence-per-share payout. Shares will trade “ex” — minus the payout right after, early next week. This change typically sparks position adjustments heading into month-end.
The move coincides with a share consolidation, basically a reverse stock split. This cuts down the number of shares outstanding but boosts the price per share, aiming to maintain the total market value even as cash exits the company.
Reckitt confirmed that all resolutions at its general meeting on Jan. 27 were approved, including the special dividend and share consolidation. The company also renewed its authorities for share issuance and buybacks, and announced it had applied to admit 674,005,752 new ordinary shares linked to the consolidation.
The company announced plans to return around £1.6 billion of surplus capital to shareholders through a 235 pence special dividend and a 24-for-25 share consolidation. The record date for eligibility is 6 p.m. on Friday, Jan. 30. Shares are set to trade ex-dividend starting at 8 a.m. on Monday, Feb. 2, which is also when the consolidation takes effect. The cash dividend payment is scheduled for Friday, Feb. 20.
Reckitt continued its buyback efforts alongside the dividend process. On Jan. 28, it repurchased 58,785 shares at a volume-weighted average price of 5,953.57 pence. The previous day, Jan. 27, it bought 58,860 shares at an average price of 5,945.65 pence. These shares will be held in treasury.
The special dividend, while sizable, isn’t out of the ordinary for investors. Coming in at about 4% of the current share price, it has the potential to skew short-term charts. Additionally, some quant and income strategies usually adjust their positions around the ex-dividend date.
Still, several factors come into play. Prices might fluctuate beyond the dividend value if broader markets shift to risk-off. Corporate maneuvers can also cause issues—odd-lot trades, settlement delays, or misunderstandings about the consolidation ratio, particularly for those holding shares briefly.
Friday’s deadline for entitlement is the next major catalyst, with Monday’s ex-dividend date and the launch of trading in the post-consolidation shares close behind. The focus then shifts to Feb. 20, when the cash payment actually arrives.
