v3.26.1
Equity (Tables)
12 Months Ended
Dec. 31, 2025
Equity  
Schedule of share capital

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Ordinary shares (20¢)

​

Deferred shares (£1.00)

​

Total

​

  ​ ​ ​

Thousand

  ​ ​ ​

$ million

  ​ ​ ​

Thousand

  ​ ​ ​

$ million

  ​ ​ ​

$ million

Authorised

​

  ​

​

  ​

​

  ​

​

  ​

​

  ​

At 31 December 2023

​

1,223,591

​

245

​

50

​

–

​

245

At 31 December 2024

​

1,223,591

​

245

​

50

​

–

​

245

At 31 December 2025

​

1,223,591

​

245

​

50

​

–

​

245

Allotted, issued and fully paid

​

  ​

​

  ​

​

  ​

​

  ​

​

  ​

At 1 January 2023

​

877,650

​

175

​

50

​

–

​

175

Share options

​

23

​

–

​

–

​

–

​

–

At 31 December 2023

​

877,673

​

175

​

50

​

–

​

175

Share options

​

31

​

–

​

–

​

–

​

–

At 31 December 2024

​

877,704

​

175

​

50

​

–

​

175

Share options

​

21

​

–

​

–

​

–

​

–

At 31 December 2025

​

877,725

​

175

​

50

​

–

​

175

Schedule of the capital

​

​

​

​

​

​

​

​

​

​

2025

​

2024

​

2023

​

  ​ ​ ​

$ million

  ​ ​ ​

$ million

  ​ ​ ​

$ million

Share capital

​

175

​

175

​

175

Share premium

​

615

​

615

​

615

Capital redemption reserve

​

20

​

20

​

20

Treasury shares

​

(515)

​

(66)

​

(94)

Retained earnings and other reserves

​

4,994

​

4,521

​

4,501

​

​

5,289

​

5,265

​

5,217

Schedule of treasury shares

​

​

​

​

​

​

​

​

​

​

​

​

Employees’

​

​

​

​

Treasury

​

Share Trust

​

Total

​

  ​ ​ ​

$ million

  ​ ​ ​

$ million

  ​ ​ ​

$ million

At 1 January 2024

​

53

​

41

​

94

Shares transferred to Group beneficiaries

​

(2)

​

(26)

​

(28)

At 31 December 2024

​

51

​

15

​

66

Shares purchased

​

502

​

–

​

502

Shares transferred to Group beneficiaries

​

(44)

​

(9)

​

(53)

At 31 December 2025

​

509

​

6

​

515

​

​

​

​

​

​

​

​

​

  ​

​

​

Employees’

​

​

​

​

Treasury

​

Share Trust

​

Total

​

​

Number

​

Number

​

Number

​

​

of shares

​

of shares

​

of shares

​

  ​ ​ ​

million

  ​ ​ ​

million

  ​ ​ ​

million

At 1 January 2024

​

3.4

​

2.4

​

5.8

Shares transferred to Group beneficiaries

​

(0.1)

​

(1.5)

​

(1.6)

At 31 December 2024

​

3.3

​

0.9

​

4.2

Shares purchased

​

27.4

​

–

​

27.4

Shares transferred to Group beneficiaries

​

(2.7)

​

(0.5)

​

(3.2)

At 31 December 2025

​

28.0

​

0.4

​

28.4

Schedule of dividends

​

​

​

​

​

​

​

​

​

  ​

2025

​

2024

​

2023

​

  ​ ​ ​

$ million

  ​ ​ ​

$ million

  ​ ​ ​

$ million

The following dividends were declared and paid in the year:

​

  ​

​

  ​

​

  ​

Ordinary final of 23.1¢ for 2024 (2023: 23.1¢, 2022: 23.1¢) paid 28 May 2025

​

202

​

202

​

201

Ordinary interim of 15.0¢ for 2025 (2024: 14.4¢, 2023: 14.4¢) paid 7 November 2025

​

128

​

125

​

126

​

​

330

​

327

​

327